Detective Constable Jo McLaughlan, of Dunedin, said a silver-coloured bracelet - with the word Casey engraved on the front, and Love Emz engraved on the back - was found near Dick Smith Electronics, where Cory Sutherland (20) was seriously assaulted early on February 13.
During the attack, Mr Sutherland was punched and kicked about the head, suffering a broken and displaced jaw, a broken nose and bruised ribs.
He is still on a liquid diet while his jaw heals.
Police are still looking for a female and three Maori or Polynesian men aged in their late teens or early 20s in connection with the assault.
Det Const McLaughlan said she would like to identify the owner of the bracelet.
"It may be totally unrelated to the assault, but until we find out who owns it, we're not ruling that out.
"Casey and Emz - those two names together may mean something to someone."
Anyone with any information about the bracelet should contact Dunedin police.
Police were also following other lines of inquiry, she said.
