Pipe jaw adaptors for nut wrenches were very popular for a while, and there are numerous variations on the theme.
I suspect this wrench was inspired by the idea, but probably not produced as such, the jaw lacks any way to cantilever when stuck over a pipe, so I doubt it works very well, and I can't see anyone making it. These wrenches have enough trouble staying attached to square nuts, never mind something round, even with teeth...
(It is possible it was given teeth so it would grip a spline, splines were used in bicycle fasteners fairly early...but for a spline it should be concave...)