I take that back... It looks similar to a packer drill attachment, included in a late-teens Starrett pressed-steel socket set.
Fig. 230 shows the unmarked drill attachment shown with the early Starrett No. 443-A socket set. The drill attachment consists of a 5/8-drive adapter threaded to screw into the knurled body, and the drive end of the adapter has a tapered square opening (not shown) for holding the drive stud of an older-style drill bit.
The overall length is 5.1 inches in the retracted position. The finish is plain steel.