You're buying the key ring shown in the photos. 
This item was fabricated from a Stanley 2-1/4" lever cap of which the lever and top section were broken off.
It measures approximately 1-1/2" wide, and 1-3/4" tall. The hole in which the key ring resides, is the original rivet hole for the lever spring.
 As much as I tried I couldn't bring myself to throw it in the scrap bucket!

 As I've stated previouslyI don't believe in throwing anything away that could be repurposed, especially something as hard to come by as these lever caps.