Help Wanted - Bracelet Bloodhound

I've spent the better part of the afternoon looking for information on the bracelet Sarah Palin was seen wearing frequently during the campaign.  Some people suggest it is made of whalebone, and I also read someone refer to it as a "magic bracelet."  I've spotlighted it in the photo here that was taken on September 9, 2008.

Is the bracelet a good luck charm?  Does it ward off witches?  She is pictured wearing it on several official and casual occasions, including her State of the State address last month.

Where did this bracelet come from, and why is it such a favorite adornment?  When did she acquire it?  Anyone know anyone who might know?  Anyone feel like playing a sleuth?