At first sight I was ready to discard the piece as being newish and not nice.

But that's not really true. Actually the piece is of great interest to me.

Not only is it very unusual in it's colors, it is also not one of the new versions (since 1990), despite it's relative simplicity in workmanship.

The bead definitely copies the design of the famous "MORFIA", as TASART pointed out.

Very unusual and surprising is the lack of any white and blue color.

An exceptional piece. Though the post is stone-old leaving my reponse possibly unnoticed, I would like the owner to contact me, should he want to sell the piece!