Cloth Seal, Unknown, Fleur-de-lis, Initials

Cloth Seal, Unknown, Fleur-de-lis, Initials, Image & Found by Simon Bourne.
Found on Thames Foreshore, 28mm.

Fleur-de-lis // (I?)P(I?) joined by line / flowers?

The fleur-de-lis is often used on the seals of Tournai and Lille but also found on English seals.
The linked letters are not certain.

All suggestions welcomed.