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—Cogsdev, asking Chris for an explanation.
—Chris, being vague as usual.
The Cherokian crown is, as the name suggests, a crown belonging to the Ancient leader of the Cherokee Clan which signifies his leadership. It is for some reason coveted by the ancient Wasabi Clan, and is explained to be the reason why the Cherokian Clan and the Wasabis were at war in the ancient past. Its shape somewhat resembles Sonichu's ears, but taking into consideration the quality of Chris's art, this may also be a complete coincidence. Since Chris has no real knowledge or interest in the culture he is allegedly descended from, the Ancient Leader's garb has more resemblance to Greco-Roman cultures, the crown being somewhat similar to the helmet of the Greek god of language Hermes or his Roman equivalent Mercury.
The Cherokian crown made its first and last appearance in Sonichu #2, where as the quote above suggests, it magically appears in Wes Iseli's hands halfway through the comic. The implication is meant to be that he had stolen it, but how the crown had survived to the modern day, how Wes had obtained it, and where it had been ever since it was originally separated from Chris's ancient alter-ego is never explained.
Keep in mind, that as far as the comic has shown, the crown doesn't actually do anything. It doesn't grant any extra abilities to its wearer and, as there aren't any of Chris's bizarre version of "Cherokians" around, it doesn't grant authority over any kind of group. The closest it gets to a "power" is its ability to appear randomly and vanish just as quickly.
After his first conflict with Chris over it, Wes ceased to care about the crown, instead focusing all efforts into stealing Sarah Hammer away. Chris also did not care about it, and instead focused all of his efforts into lecturing Wes and trying to act morally superior for the rest of the story. Thus with neither the characters nor the author giving a shit about the the thing anymore, it was forgotten about completely and never mentioned again.
As a once-important symbol of Chris's identity, a replica of the crown made out of CRAYOLA FUCKIN' MODEL MAGIC can be seen atop the head of Chris's My Little Pony self-insert, Cheroki-Chan, in both of its two incarnations.