Fortune Telling Cake Set, 1957
(as always, you can click on the image to go to my Flickr page. "All sizes" over the image will allow you to zoom and read the details)
These are charms that were baked into a cake, then the recipient would discover his or her prediction of luck for the coming year.
This idea of finding fortune in a slice of cake is still a feature in many traditions around the world.
During Mardi Gras, for example, The King's Cake includes a bean (representing the baby Jesus). Whoever is fortunate enough to receive the slice with the bean (or coin, or plastic Jesus, etc) is said to have good luck for the rest of the year.
The Victorians added ribbons to the ends of the charms.
The ribbons extended outside the cake slices, and the charms were pulled out (they are called cake pulls).
You can buy modern examples of these charms, usually for wedding cakes.