Hello Toms,
Welcome to the wide world of "What Is It?" It looks like vitreous clay pipe to me. There's lots of uses for it, even today. That stuff lasts a very long time...
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. I really have no ideaThe inside of the pipe has a glazed surface, kind of what you would see on a clay pot. I was assuming that this glaze would have been applied to make the inside of the pipe waterproof or at least resistant. Being decorative I am tending to follow the idea of a gutter downspout.