Judy P's Tickle Trunk

Can anyone tell me the use for this device? I recently picked it up at a yard sale; it had a sticker of $2 but it was close to the end and the lady said “Just take it, no one knows what it is anyway!” I’m sure once I find out I will have a use for it. I know it is not a niddy-noddy or a swift or a skein or ball-winder. Looks like it might be for twisting ply of spun yarn or twisting fringes on blankets and rugs. I googled, browsed and then googled some more, to no avail, so I am sending it out to you all. Whatever it is, I got a smokin’ deal. Just helps to feed that yard sale flame I’m afraid. I soon will have to institute the rule: one item comes into the house another item must leave. Here’s a close-up of the working end of the rig:

I look forward to hearing any and all suggestions.

(c) Judy Parsons 2013