I agree, related to the zodiac. Just to add, that according to the Chinese Horoscope the years, 1916, 1928, 1940, 1964, 1976, 1988, 2000, and 2012 are years of the Dragon.
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Draco Constellation Pendant by: Yvonne
The theme of this unusual pendant appears to be astronomical so I'm leaning towards it (Dragon at top) being symbolic of Draco which is a constellation in the far northern sky. Draco is Latin for Dragon. Draco is circumpolar (that is, never setting) for many observers in the northern hemisphere. It was one of the 48 constellations listed by the 2nd century astronomer Ptolemy, and remains one of the 88 modern constellations today. Warm Wishes Yvonne
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Looks of the 70s by: Anonymous
How unusual! Is it Copper or Bronze? Copper is a reddish color. Bronze jewellery was a cheap alternative to gold, and was a key look of the 1970s following the lead of the Finnish jewellers. Bronze was easy to cast - Tino & Pentti Sarpeneva used bronze in combination with amethyst and rose or smokey quartz.
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Copper Pendant by: Anonymous
At first glance the piece does not look that old to me. You may want to search for different variations of the initials you see on the piece as it could be a makers mark. Still a neat little pendant!