What is this?

This red plastic key looking thing are on both key rings for the car. Neither previous owner or current (SiL) have any idea what it’s for.

I’ve looked everywhere – detachable tow bar, glove box, roof rails, passenger airbag switch, but nothing on the car looks to be operated with this key.

It’s a 2012 Kia Ceed SW, but maybe it’s not even for the car? 😅