Could only find one vaguely similar:
http://www.dafont.com/legend-m54.font?text=FONTS

The decoration is called a median spur:
http://www.myfonts.com/search/median+spur/fonts/

You could search the free font sites using “median spur,” “western,” or “tuscan gothic”.....

Reminds me a lot of DIN Condensed (/S looks pretty close). Customized (rounded, slightly distorted and median spurs added)?
Some ready-to-go options: Roper, Brooklyn Coffee

It's called 'Bushcraft' by Rachid Aitouaissi, which I believe was created as a freebie for pixelbuddha here:

http://pixelbuddha.net/freebie/bushcraft-font-family

It's part of the family, if you scroll down :)

Thanks for solving it, Simon!