Help identifying large Chinese coin/token with a square hole? Pictures: https://imgur.com/a/Xt2lPCX?

I bought it about 15 years ago in a gift shop in Los Angeles for a couple bucks so it's probably not very rare or valuable, I'm just curious what it is.
Update: The answer by Quentin was correct and super helpful, although for some reason it was deleted. This is a Buddhist pendant depicting the 18 Arhats (https://en.wikipedia.org/wiki/Eighteen_Arhats). Which is a really cool coincidence, as I've been interested in them for years and I'm a big fan of their portraits... show more The answer by Quentin was correct and super helpful, although for some reason it was deleted.
This is a Buddhist pendant depicting the 18 Arhats (https://en.wikipedia.org/wiki/Eighteen_Arhats).
Which is a really cool coincidence, as I've been interested in them for years and I'm a big fan of their portraits by Guanxiu.
Update 2: I think it's originally a Thai design, although mine is probably a Chinese replica. Could someone who speaks Thai translate the script?
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