I don't know the material of the ring. It has the appearance of mother of pearl but we think it's probably  lucite or another plastic. The rattle is probably tin. The back of the rattle has rub wear - it looks like it was plated and some of the plating has worn off.

Ring is about 1 3/4 inches in diameter.

An unusual item particularly with the religious figure and inscription

Sold as a vintage collectible, and definitely not for use.