This is an HKM Loose Ring Snaffle with Lozenge horse bit.
Made of stainless steel.

Features a double-iointed mouthpiece with a lozenge center ink, which is designed to be comfortable and prevent pinching. S
The loose ring design allows for greater flexibility and movement in the horse's mouth.
Commonly available in 16mm or 18mm thickness options.

**Used in good condition, only used a few times
please see pics for measurements