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Sorry, I guess it's a loom strop. The leather is only attached to the very bottom of the frame, and the handle screws in and out in order to stretch the leather. (I'm such a noob! :o )

104146

104147I scored this cute little paddle strop for only $5. It's about 12/5" including the handle. As you can see what is left of the leather is paper thin. I would sure like to fix it up...