Can anyone tell us the actual use and maker for this tool? Thanks. Al.

It certainly looks like a snap ring tool, but perhaps for a specific application, and heavy duty, to boot.

Yes, Id agree with Noel, its a specialty snap ring pliers. It appears you could use different tips or points in it. I'd bet a specialty tool maker such as OTC would have made it.

Transmissions perhaps.

Transmission snap rings, yeah.  That T handle to tighten it, sure looks like a dealership tool from the 50s, when mechanics got tossed into automatic tranny work on the deep end.