This object is a Tyet amulet, also known as the Knot of Isis or the "blood of Isis," a powerful symbol from ancient Egypt. The symbol is closely associated with the goddess Isis and represents protection, fertility, life, and rebirth.
Tyet amulets were often worn as protective objects by both the living and the dead. In the tomb, they were often placed on or near the mummy to ensure the protection of Isis in the afterlife.
The appearance resembles a knotted strip of cloth and bears similarities to the ankh symbol (the sign for "life"), but with the arms bent downwards.
Although the symbol was known early in Egyptian history, from the New Kingdom onwards it became a very common type of amulet that remained in use into the late periods of ancient Egypt.

See last picture as a parallel: https://www.liverpoolmuseums.org.uk/artifact/isis-knot-tit-amulet-14