The medal was issued to commemorate the 1869 opening of the Suez Canal.
Not sure if yours is a medal, or maybe a token imitating it.
Here is a wonderful condition example in Royal Museums, Greenwich, England
https://www.rmg.co.uk/collections/objects/rmgc-object-38247
Obverse: Head of the Emperor Napoleon III (left).
Legend: 'NAPOLEON III EMPEREUR'.
Reverse: A female figure representing the canal, standing (centre) draped,
wearing Mercury's cap; a semi-draped female figure standing (left) representing
the Red Sea holding hands with another standing, semi-draped, representing the Mediterranean,
a caduceus in her left hand; a pyramid, palm and sphinx (left), a steamer (right).
Legend: 'JONCTION DES DEUX MERS' (The joining of the two seas).
Exergue: 'CANAL DE SUEZ MDCCCLXIV' (Suez Canal 1864).
Creators: Depaulis, Alexis Joseph; Oudiné, Eugène André