I tried tapping it out of the wood, and it won't go easily. Don't want to force just yet. I can see the other end, and it looks like a square end, maybe a tapered tang, but I doubt it. Also I hadn't noticed but the initials J S are stamped into the metal just past the "handle" on two sides. Maybe a maker, or an owner.
Maybe I should try and see if it will really ream? I really looks like a type of bolt extractor, but really doubt it was.