This is a 1945 Matador Pin. The cape is a pearl pink, the pants are a pearl baby blue, and the face is a faux pearl. I have seen only 3 similar in body, but all the others have had different colored clothes.
The Pearl is about 4mm in diameter. The matador body is 1 3/8" tall and 3/4" wide at the widest part. the cape is 85/8" tall and 3/4" wide. The complete pin is 1 3/8" tall and 1 1/4" wide.
There are no brand names marked, and no stamps to indicated the type of metal used.