This is...
A Martenitsa:
This is worn in form of bracelets, necklaces, and pinned on top of everyday clothes in Bulgaria. People exchange "Martenitsas" on 1st of March. It signifies the enter of winter and beginning of spring as well as good luck during the fallowing year. Traditionally, the Martenitsa must be worn until a person sees a stork, and the place the Martenitsa on a tree. It is consisted of red and white piece of wool crafted into variety of shapes.
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