What Is It

It's a geometric die head. Most have a straight shank. Clean it up and look for numbers, it will tell you the capacity and type, such as { 1/2" D}
the lever "cocks' the head and sets it for threading, when the body hits a stop it will spring open.
 
Die Head typically used on a turret lathe. But, not necessarily.
TubalCain has a video on how to use a die head on an engine lathe.

Daryl
MN
 
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