<p>Aiming at the demand for high damping vibration reduction, based on the traditional entangled metallic wire material (EMWM), this paper proposes a lead–stainless steel composite entangled metallic wire material (CEMWM). By loading constant amplitude sinusoidal excitation, its dynamic mechanical properties and fatigue characteristics are evaluated in terms of average dynamic stiffness, dynamic loss factor, and energy dissipation under different mass ratios, densities, and frequency factors. The fatigue damage mechanism is analyzed by SEM electron microscopy as well as by the changes of mass and height. Building upon the traditional Sherwood Frost mechanical model, a volume fraction parameter was introduced to better account for materials with varying mechanical properties. Hysteresis curves for CEMWM with different mass ratios are used to establish a dynamic mechanical model through parameter identification. Comparison of the model fitting data with the test data shows that the model has high accuracy. The conclusions derived from the tests provide theoretical guidance and support for future engineering applications.</p>