I think it goes around the neck
A reason for the key to rotate could be you hang something on the "Key" and at different times you want to display different sides of the object.
Ie during a mass you show an image of Birth at start and then rotate to an image of Death at the end.
I have no idea by the way just throwing things out but I think it is to fragile for equine work or constraint.
Nice item though.
Ken
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