Not a pin as such, maybe a hat badge perhaps not even German though it is made from an iron cross shaped background.
That retention system is often seen on British / Commonwealth pins of WWI / WWII vintage.
The writing around the center might be a clue. I can't quite read it.
Dave
Inscription is murky, best I can tell it says tria juncta in uno and the center objects look like mushrooms or parachutes
I believe these are British military officer pips, I have a small fob or chain made of them. They’re lovely little things, some are quite ornate- gilded with red and green enamels.
WWI ?
BRITISH MILITARY ORDER OF THE BATH MEDAL PIN
TRIA JUNCTA IN UNO
three join to become one
Felt like an idiot at first upgrading to the latest iphone but the camera really is top notch with a dedicated macro mode, perfect for things like this [though the lighting probably could have been better]