It's a pie trimmer and sealer! To use it, one would roll the wheel and its prongs along a pie crust to crimp the edges. Although this isn't an essential pie making tool (we generally use our fingers or a fork to do the same job), it just seems fun to use. Plus, it would produce consistent-looking pie crusts.
This particular pie sealer was made by Vaughan's and we guess it's from around the 1930s. Similar ones may be found on eBay and Etsy. Modern crimpers also exist, but to our eyes, the older ones have so much more charm.
Do you have any vintage kitchen tools in your arsenal?
(Image: Gregory Han)