Stupid question- what is this used for?

Steve R

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I got this bit mixed in with some others I aquired. Thought maybe for chamfering a specific size hole. It is about 3/16 dia.
Thanks

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Looks like it could be used to cut around a broken SHCS for digging it out . Just a WAG on my part .
 
Is there a central hole all the way through (can't tell in the photos)?
Is there a tapped hole/set screw (radial)?
 
No hole, the other end looked like like it had a drill end at one time but is broken off.
 
Maybe a pad cutter? Printed wiring board material (copper-clad fiberglass reinforced plastic) can be
crafted for prototyping by cutting islands of copper and using those as solder-able insulated terminals.
The usual tool is something like a tiny hole saw, complete with pilot or centered drill bit.

It makes tiny donut-shaped islands in the copper.
 
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