Another Thrift Store Mystery

Okay, file this one under, "what the heck is this" and pin it, tweet it and share it so I can solve this mystery.

Went to a little hole in the wall thrift store today run by a bunch of good old boys, as I was checking out I noticed this behind the desk, they jokingly told me it was a case for me to keep my tiara in, and admitted that they had absolutely no idea what it was.  They then proceeded to sell it to me for $1 if I promised to tell them what it was when I found out.  So here it is...

Show everyone, I've googled but it's hard to google when you don't really know what to google.  It has a sturdy metal handle and the whole thing is padded inside (you couldn't really put anything in it except maybe something breakable).

UPDATE

Thanks to my facebook friends, especially Sybille Petersen for solving this one!  It is apparently a Tea Cosy for carrying your teapot around without spilling it, hence the flat wooden bottom!