PCGS 1945-P Jefferson nickel war nickel elliptical clip, with an oval shaped elliptical clip. The elliptical clip occurred when the blank was punched out from a previously partially punched out blank. When the blank was punched out, it separated from the other portion that was partially punched, leaving an "elliptical clip" blank.
This is a rare error type on war nickels, and very few are known. We would roughly estimate 5-10 are known.