I cant figure this one out.

[Island Man]

It has a tapered steel wood screw on one end and a brass bezel below the beak looking thing.

 

[Tony in SC]

It's the flow control for an old drip oiler. Screwing the top in slowed the drip, screwing the top out made it drip faster, Raising and lowering the small lever cut the oil on and off. I use them on my Hit & Miss engines. Tony