Reminds me of a cornice? piece, that would have been bent and nailed onto the edge of an old box, trunk, etc. The holes would be nail holes.
I just like to guess.
Cornice is not the right word. Corner or edge hardware piece, or backplate for a latch, is what I am thinking.
Still just guessing, of course.
that's a lot of nails for such a small piece
The base of the "tree" shape has the look of it being half round so it would wrap around a pipe shape and be attached with two pin/nails through the two holes.
I don't think that the "wrinkles" in the main body of the piece are the way it should be. I think it was smooth other than the holes and little dimples.
So... with all that said my best guess is it was a reflector for a finger candle.
Oh well just my two cents