Yes, that's autumn olive, aka russian olive..
Autumn olive is NOT the same species as Russian olive. Both are in the same genus
Elaeagnus, but different species.
Looking at some pictures online, it appears to match Autumn olive,
Elaeagnus umbellata. The leaves are too broad for russian olive, and the lack of thorns is a good indicator as well. I think I can see some flower buds forming in the leaf axils, but hard to say from the picture. The bark matches autumn olive as well.
I don't know if autumn olive will make a bow, but I'm confident in the ID.
Leaving such a young, green stick in the round is not a smart idea, though. It can check within days or even hours. Reduce it a bit on one side, so any checks radiating from the pith will only form on this one side you've already reduced. Seal the ends and the back, and put it somewhere to dry slowly. I personally would have left the bark on such a stick.