14K Gold Screw Back Pin PEON Fraternity Sorority?

This is an old screw on style gold pin with a man wearing a sombrero that has the letters PEON on the hat. It measures 7/16 x 7/16 inch. On the back is 14K. It is in good condition. I am not sure what this pin stands for. Paypal accepted. Buyer pays shipping and handling of $2.50 media mail in the US more For international shipping.