Here is Lagoon Island Dave's response: This type of pearl is normally formed by a perforation in the mantle skirt (as opposed to the typical horn shapes from hepatopancreatis) Very often tiny parasites are encased, but in this case the animal's growth rate exceeded the abalone's. The oval shape and imprint suggests a chiton. The original hole was likely drilled by a gastropod and when it became dislodged the critter crawled inside.