Tiny (Highland) Dancer ?

It's Tiny Tuesday and I have found a tiny mystery object. Mystery as in 'Why do we have it and what does it represent?'. It's a pin, smaller than the 1 Euro cent and that one is indeed small. From now on until the move (nothing is settled yet, the bidding starts now) we'll need to start sorting stuff and sell, give away or throw that what we don't need anymore. This little pin was resting in a quaich together with other odds and ends. I really have no idea where it came from (a Christmas cracker?) and what MEF (the letters making up the face) means/represents. Anyone?
With thanks to Beckett who is the host for TinyTuesday the coming two weeks!

And thank you very much for your comments and stars for yesterday's tiny flower for Whitsun Blip!