Corvidae Antique has dated this piece to the 1930s.
The "fans" are solid silver, the circle is wood or a wood-like substance, it has a lovely wood-grain patterning.

In excellent antique condition. Stamped 925 (sterling silver) next to the hinge, also has an Italian silversmith's hallmark on the pin.
Size: Approximately 5.3 x 4.3cm, the ring is approx 6mm thick.
Weight: 12.1g.
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Corvidae Antique has dated this piece to the 1930s.
Hand picked jewellery from a friendly family business
You can view the stock and full dealer information on the Corvidae Antique Profile Page