Very chic, in a Mideastern kinda way. Liking the gold tassel, and black glass beads. I could imagine this looking smashing with a peasant top, or plain tee, or a black flowy top.
I might wear this as a belt -- if it is long enough. Or around your neck will do just fine. I think this would work best with a Diane Von Furstenberg type of wrap dress. Ethnic chic.