This looks fake to me....stitching should not be contrast, hanging piece should be same color as the saddle. I haven't seen this anywhere else and I don't know who this IG account is - unless the pic is coming from H or I can see something demonstrating that it's genuine, I'm not going to add this to the chart. Has anyone seen this anywhere else?
I totally agree with BBC. There are many horse charms on Etsy which look like Rodeos but are not authentic. It doesn't take much to photograph a fake item in front of a real Hermès box.