Is this a Kappa Sigma pledge pin?
 

I would think Sigma Kappa because I know it's not Kappa Sigma since we have that fraternity on our campus.

I don't think it's a Sigma Kappa pin either because I've seen my mom's pledge and regular pins and they don't look like that one.

maybe its an old school version of either?

That is not a Kappa Sigma pledge pin

It could be a local sorority pin...some have pins like nationals- at least at my old school they did!

It's not a Sigma Kappa pin. It's probably from a now-defunct local group who had pins made up, or something like that.

I think maybe it is a badge or some sort of guard. Pledge pins most often tend to not have jewels on them; they are usually just small metal or enamel pins.

KSigkid, much though I hate him normally, is correct.