It's an unfinished raw forging, from an open die process, made with what appears to be some type of steel. The forging process is the first step in manufacturing a high strength high endurance steel part. The blank piece of steel is heated to the point where it's malleable and then pressed into shape by powerful hydraulic forge presses & hydraulic hammers. After the forging process the part will go through various grinding and/or machining processes, heat treatment, surface coating, etc. to produce the final part. It'll be tough to identify the finished part with the forging shown being in such an early stage of manufacturing, Someone making that particular type part will likely know exactly what it will be.

Primitive multi tool

References:

https://www.worthpoint.com/worthopedia/authentic-north-american-indian-185937...

Reason:
Another opinion was accepted instead.

It's an unfinished raw forging, from an open die process, made with what appears to be some type of steel. The forging process is the first step in manufacturing a high strength high endurance steel part. The blank piece of steel is heated to the point where it's malleable and then pressed into shape by powerful hydraulic forge presses & hydraulic hammers. After the forging process the part will go through various grinding and/or machining processes, heat treatment, surface coating, etc. to produce the final part. It'll be tough to identify the finished part with the forging shown being in such an early stage of manufacturing, Someone making that particular type part will likely know exactly what it will be.

References:

https://www.steelforging.org/how-steel-applied-in-modern-forging-process/

https://www.scotforge.com/Blog/open-die-v-closed-die-forging

https://www.reliance-foundry.com/blog/forging