Can You Tell Me What This Tool is Used For?

Bte, these things at the bottom go in and out freely, but you can tighten or loosen how much goes in and out. If you look at the center of the hole, it looks like it might be used for holding something in there precisely
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I'm still gonna go with tapping head. Looks like the triangular drive fingers are meant to disengage when the proper depth is reached, set by the DP spindle stop. The tap just pulls the fingers out of engagement as it continues down once the spindle stop is reached.
 
Ok. I think I found out what this is. Today, I was checking out a garage sale of machiniSt stuff that belonged to the seller's now deceased uncle. I saw the exact same tool, except smaller. Here is the pic of the end of to the box that the tool being sold came in.20180715_172654.jpg
I still have no idea how to use it, but at least I have more stuff to Google for possible answers. And no, those are not my manly hands, lol
 
TWO of 'em in a short span of time ... plus all the other stuff you've posted about! Gaw-lee, Susan, you live in a very interesting place for tools.
 
I still have no idea how to use it, but at least I have more stuff to Google for possible answers.

Look on youtube for "tapping head" videos. That will explain.
 
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