"It is a Japanese tool used somehow in bookmaking
(purchased in a Bay Area store which specializes in paper and
bookmaking), and consists of a VERY sharp tiny steel tube (the
ID looked to be the equivalent of about 18 ga wire) attached to
a bamboo holder. It is used to punch neat tiny holes in paper.
Simply placed the tube on the paper and gently rotate."
It’s an awl. Bookbinders use it to make the holes in the pages
of the books (which have been folded into groups of 4, 8, 16,
etc.). These holes are used to thread the waxed linen thread
through. Bookbinders also use bone folders, a piece of bone or
plastic that they use to make a sharp crease when folding paper.
Could come in handy if you make your own fold over earring