I bought this tiny coin with a bunch of Indian princely state coins so my first assumption, because of the elephant, was that it was from Mysore.
However, I couldn't find a match for the other side, which I took to be an abstract design (apparently it is three hills topped by a crescent).
Coinoscope eventually led me to a close match, a 1/4 karshapana from the Shunga Empire, 185-73BC.
However, one thing doesn't match - the Shunga Empire coins I found online have a king riding the elephant, whereas the elephant on this coin is riderless.
It looks to be copper with a diameter of 11-12mm.
Any ID tips appreciated.