This month's item is a hollow auger, also known as a spoke auger, a tenon cutter, or—as in the case of our June 2012 mystery item—an auger tenon dowel cutter.
It's used to cut a round tenon such as required on a wagon spoke or chair rung. These tools were made in a wide variety of shapes, sizes, and patterns. Each type has a knife, and most have an adjustable depth-stop.
In short, this month's item is a variation of our June 2012 item. To read more about it, click here.