I bought this from a collectors emporium in York. It is a rattle being made of a hollowed out piece of dowel with a pair of slits cut out and mounted on a length of down for holding it. Attached to each side of the hollowed piece are two metal balls on the end of metal strips which bang against the side of the toy and make the sound. I call it a rattle but the sound is less sharp because it is being made by the thin wooden tube resonating by means of the two slits,makinh a more mellow sound than a metallic 'rattle'. Quite old and probably dates to the early 20th century. It has applied pictures of jesters to each side and can't have been used too much as I don't think it would have survived like it has. I think I paid £8 for the rattle and a small tube of 'Harbutt's Gold Medal Plasticine' - a cardboard tube with a 'dowel' shaped piece of plasticing wrapped in paper iside it.