Looks like an Air Force challenge coin. Trump has a collection of them displayed on the credenza behind the Resolute Desk.
Could be a bomb wing/squadron's coin, because there's a target on it. The thunder & lightning coming from the eagle on the other wise, and the radio tower antenna, plus the year, suggest the same.
No ideas on the 5 stars, the rainbow, the "hat" (?) the eagle is putting in the box, or the 4 thought bubbles between the eagle's head and the AF logo.