Looks like the pulley has broken free from the power steering pump output shaft. The pulley is held in place with a key (a small piece of metal in the shape of a half moon) that fits into notches on the shaft and inside radius of the pulley.
Do you have power steering or have you noticed that it comes and goes?
When the PS pump fails/seizes, then the resistance shears the key and allows the pulley to spin freely around the output shaft. To check, you can remove the belt that drives the PS pulley and see if the pulley spins freely. If it does, you probably have a failed PS pump and need to replace it. If the pulley is still straight, you can reuse it, but you'll need a new key too.