I think we can all agree that it is a bulb horn?
Due to it's age, it could have been used on a bike, auto, or motorcycle. However, due to it's smaller size I believe it was probably used on a bicycle.
As for the quality of it... Once upon a time in this country, things were built to last with pride. Back when America was self supportive. Back in the days when a blue collar factory worker could support himself and his family on a single income punching a clock. Something that doesn't really exist anymore. This ain't no "Leave it to Beaver" world anymore, unfortunately...
Steps off his soapbox