This pin is from Brazil, and it is quite rare.
It was made in 1994 by TecToy, and was given out only to Sega's TecToy management as a promotion for Sonic games being released in Brazil. So basically like some of the jackets or patches, it's an 'employees only' item which means that not too many of them were made and they never retailed. The pin has classic finger waving Sonic stock, likely in an enamel coating on the metal pin with the TecToy logo in yellow/orange at the bottom. If you see this pin, hang on to it!