What makes a Fetish necklace valuable?

Here’s a section of a Native-American-made fetish necklace which my mother purchased from a reputable dealer about 20 years ago.
There’s some confusion regarding whether she bought this in the 1970s or as late as early 1990s. However, this is the real thing.

I’m still trying to determine if this was Navajo-carved or Zuni-carved.

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