I call this a Watchlet - it’s a bracelet, made from an old watch. The watch case and strap are rolled gold, dating to circa 1920. In this case, it’s also a shaker, as it has loose gemstones rolling around inside when you move. It’s also Acrostic, as the gemstones are selected to spell out a secret message or word, and in this case, the fist letter of each gemstone spells ’Dearest’. 
D for diamond
E for emerald 
A for amethyst
R for ruby
E for emerald
S for sapphire
T for topaz
Acrostic jewellery can be traced back to Marie Antoinette’s jeweller, and has been popular with Royalty through the years, in particular Queen Victoria, who had several pieces of Acrostic jewellery herself.