Vintage buttonhole knife, with turned wooden handle, which is used, in conjunction with a block of wood to cut out buttonholes. The buttonhole is positioned over the block of wood, the knife is placed where the cut is to be made and hit on the top wit the hand, or with a small mallet if you prefer. These make a very neat cut.
This one has its original cardboard safety cover . This one appears to have had nittle or no use as it seems to be as sharp as it was when it was new.