My sheltered life has protected me from seeing this tool before. A hardwood cross piece supports (and limits) a steel cutter having a slightly curved and strongly beveled blade that is positioned to cut stock that is fed through a hollow handle about 4 ½ inches long. There is some slight turned decoration on the handle. Also the handle sports the tattered remains of an unreadable black label. My guess is that this is a cutter of dowels up to about 5/8” diameter, or perhaps shoe pegs. It is a great “whatsit” and could even find use in the shop. Fine.