Thats what I thought when I first saw it too.
Its part of a seatbelt system and its pretty thick...I'd say 12, maybe 10 gauge steel. I imagine its probably pretty stout. Its not really cut to the purpose here...its a little wide on the open part. The closed loop is just fine though.
Not sure I will even use them really since its just as easy to feed the loose end back through the loop but I did feel a little justified in my collection of random parts of random crap