Where are you located?
It may be a freshwater pearl, it seems these were really common in USA, Mississippi and Tennessee, because of mother of pearl industry I would say from second half on XIX to maybe the 60's or so.
I have a whole collection of freshwater pearls from turn of century and some have really weird shape and design.
It's possible to find some mounted on jewelry, even very high rank Jewelry like Tiffany, There were several brooches made using typical petal shaped freshwater pearls, and used to make chrysanthemus flowers, mounted on platinum, so yours could be same maker, and same style.
Flower theme is a really old jewelry tradition.