I've acquired this thing recently. It's solid wood and none of the parts move. The handle is firmly attached. It measures 14" tall. It comes with three different sized holes: 1-1/4", 1", and 7/8".
So far, my guesses are: misc. tool holder, tobacco pipe rack, communion cup holder, crochet needle holder, or shot glass flight tray. Any help would be greatly appreciated!
For crochet hooks?
I also see at least several not-identical-but-similar crochet hook holders when doing image searches, so the concept of "wooden crochet hook holder" can't be that unusual:
They have holes, in some cases of different size, and a center handle. That being said, all of the ones I saw seem to have this multi-level design, to be lighter, which OP's object doesn't.
Maybe a homemade version which would be easier to make; you'd just have to turn and drill holes into a hunk of wood.
And/Or multi-function purpose of being relatively sturdy enough to beat people with.
Dang, the handles on that set of hooks looks like it would be hard on the hand and fingers after using for a while, like blister-inducing.
I thought the holes went all the way through, so I was going to say some sort of tool for crochet/knitting.
A holder for crochet/knitting tools makes sense to me.