I believe this old hand-forged iron ring might have been part of a yoke or harness, and maybe used for hitching. I just think it's a beautiful, sculptural thing, which could be used as a hanger for something now, or just set somewhere as interesting object, with this great rusty surface. I wouldn''t have thunk it, but here I am getting rather obsessed with rusty old iron things! 

5 3/8" ; x 2" w x 2 3/8" d. Surface aging as evident, all to the good I think; structurally in great shape.