This is an Indian War Bridle braided out of 8 strands of paracord.  The colors of this one are Green Turquoise and Tan.  You slide the keeper up to the chin to keep it in place.  

This piece, like any other new equipment, should be first tried out in a safe environment to see how your horse responds to it.  If your horse is well broke it can be a fun item to get in better communication with your horse.