I've found some other old cast iron horseshoes featuring shaking hands like this one-(though no other with this terrific heart and star at center), and so believe it likely had fraternal associations. This one was clearly hand-painted, still showing a pattern of little flowers all along the horseshoe, cream paint on the shaking hands, and dark red on the heart, and at the very top one can just make out the words "Good Luck." Based on a few other painted examples I have seen, I am pretty certain this one dates to the 19th century, likely 1880s or so. To my sensibility a perfect gift for most anyone: a very charming token of love and friendship.

3 1/2" t x 2 78/8" w x 9/16" d. Very good antique condition with a fantastic patina that photos don't quite do justice.