This winged muleshoe is the hat badge of an Army Ferrier circa 1890-1905...
it's a brass stamped piece, but the texture on the leaves is intended to emulate stitched bullion, an embroidery technique used for rank badges in the civil war employing metal threads. Like this naval hat badge...
Yes, Marvel ye mortals and dispair! There's just something awe inspiring about a properly painted and based unit of old school Airfix wargaming figures.