Your cameo is made of seashell called "Pink Queen Conch". This shell is also used to make a "fake" coral, simply by cutting it in different shapes, mostly large cabochons and dyed in red color.
Seashell and hard coral have similar chemical structure and it can be hard to detect by non experienced eye. Be careful buying new coral.
Nice turn of the century piece! A.Stromberg Los Angeles, California www.strombergtime.com
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Pink Shell Cameo by: Brenda
this appears to be a pink shell cameo, it is carved from a different shell than the more brownish colored ones.