Hi Roman,
Thank you for the extra information & photo. Yes a shooting badge from the Deutscher Reichskriegerbund Kyffhäuser (DRKB), the "Große Ehrennadel der Schießauszeichnung". Indeed this proves to be a doubly rare photo as it is also very unusual to see this badge in wear. I have often seen the lower grades (bronze, silver & gold) in photos, but not the large honour version 🤩.
Here is my example, unfortunately it has lost most of the gold finish ☹️.