In one of the final scenes of the season, Eleven appears to be wearing the exact same bracelet. This happens after she officially becomes his daughter, or rather after Dr. Owens produces a fabricated birth certificate saying so. It could be just coincidence, but given the show's supreme attention to detail, it's very likely that Hopper has given his bracelet to her.
The easy assumption is that Hopper has "replaced" his late daughter with Eleven, but that's not my read on it at all. I think the small gesture is a promise. Hopper is promising to love and protect Eleven as he loved and protected the daughter he once had. He's taking all the fatherly care that still lingers in his heart and finally putting it somewhere. It's a sort of closure for him, even though (I assume) he'll always love and miss his biological daughter. But in Eleven, he sees an opportunity to mend and move on. He sees a second chance.
