I am going to go guessing her, but here goes. To me, this looks more 19th Century than 20th Century, possibly a pendant from a watch chain. The text is Henri; Tout Pour et Par La France; Dieu et Le Roi. Henry; All for and By France; God and the King. There is a Henry, pretender to the French Throne, born in 1933, which to me puts it too late. There is also a Henri, 1820-1883, Duke of Bordeau, Count of Chanbourd, who may be the Henry illustrated, although he may be too early. He wore a beard in the 1860's. The crest is an anchor, with a Cross and heart over it. Henry, Count of Paris, was a military man.
http://en.wikipedia.org/wiki/Prince...ke_of_France tells about the Henri born in 1933.
http://www.inumis.com/medailles/fra...a805424.html shows a very similar piece, but with a young boy. The stle and manufacture look very similar. This piece has no ate stated. I am guessing that this Henry may be a son of Charles X or Louis Philippe.
I don't know my French History as well as I would like.
There was also a Henry, who was born in 1901 and died in 1999.
I think that this is of a descendant of the French Kings (House of Bourbon) and possibly late 1800s- a watch fob or something similar.