I believe it's just a German cross. 2nd class.
Makerim almost sure is Rudolf souval. Any mark on the ring?

 

Definitely a Souval and appears to be a WW2 example and not a postwar one made off the original dies....Bodes

 

I have no idea if it was real, but back in the 60s, replica Iron crosses were everywhere. They were considered cool ornaments. I had one with a silver border and a ceramic blue cross. I don't know where it got off to. I wore it on my Mountain Dew cloth hat. Not many will remember them.
;

 

I have seen hundreds of Iron Crosses, currently have a number of them in my collections, but the one in the photos is the first I have seen with the suspension loop becoming detached from the body of the medal.

 

This is a characteristic of wartime Souval made EKII's....Bodes

 

I've probably seen hundreds like the one of the original posters. Probably sold that many as well. Not sure if the solder pops off or some just may have been crimped just enough. Either way nice ek2