Carved jade Quan Yin pendant with delicate black silk cord and jade bead. Approx. 1 3/4" high.

From Wikipedia:

Guanyin is the Chinese name for the Bodhisattva Avalokiteśvara. However, folk traditions in China and other East Asian countries have added many distinctive characteristics and legends. Avalokiteśvara was originally depicted as Buddha when he was still a prince, and therefore wears chest-revealing clothing and may even sport a moustache. However, in China, Guanyin is usually depicted as a woman. Additionally, some people believe that Guanyin is neither man nor woman.

In China, Guanyin is usually shown in a white flowing robe, and usually wearing necklaces of Indian/Chinese royalty. In the right hand is a water jar containing pure water, and in the left, a willow branch. The crown usually depicts the image of Amitabha Buddha, Guan Yin's spiritual teacher before she became a Bodhisattva. In some Buddhist temples and monasteries, Guanyin images are occasionally depicted as a young man dressed in Northern Song Buddhist robes sitting gracefully. He is usually depicted looking or glancing down, symbolising that Guanyin continues to watch over the world.