If you watch the video closely, it appears rather obvious that this item was slipped to Pence in the handshake, as a magician might slip something to someone. Once the handshake was complete, he opens his hand wide to look at it - indicating he doesn't have any idea what it is.

He then manipulates it into a different spot on his hand, so he can get a better, closer look. He then accepts it, passes it to his other hand, and pats the person on the shoulder as if to say thank you.

To me it looks entirely consistent with a gift of some sort being passed to him, and him simply accepting it.

If it was some sort of secret thing, would that be done open and in public? When was the last time a satanic ritual was held out in public (I mean, outside of Hollywood and music concerts, etc)?

When there are other more plausible explanations, I'm skeptical.