This is a pin that one Ella Peters received on her voyage from Bremen to New York. She happens to have been on the same voyage as my great-grandfather Albert Pohl. Whereas Albert was in steerage class, it appears Ella was in an upper class. This may be a souvenir given out by Norddeutscher Lloyd.
Batavia Family History (http://www.millpark.org/batavia_memorabilia/peters_ss_dresden_ella_heini_1892_08_02.html).