it looks like a pencil sharpener see how the wings could be used to turn it on the pencil and the slit gos into a point like a modern day sharpener . just what i think
Wow Thanks for all the ideas . It just may be a sharpener ...If you look closely ( I wish I could get a scan of it ) there is some type of Asian writing on it .
Didn't they use to have a sharpener for crayons? This doesn't look like it would have a place to hold the sharp blade for pencils but for crayons or something soft, this would work.