It is a tool handle. The cap should come off to expose the hollow handle that holds the bits. Maybe you will get lucky and someone jammed a few extra bits above the standard 8 or 10 in there. They usually shake. Tools that I have seen in them include brad awl (different sizes), awl (round and diamond), screwdriver (different sizes), gimlet (different sizes), saw, chisel (different sizes), reamer, tack lifter, and countersink. Some have a wrench for the chuck if it is that type.
One of the very first tools in my collection many years ago was a tool handle. I had no idea what it was. One day I was sitting around drinking a beer, and was shaking it. I heard the bits inside and opened the end. Our first dog liked to chew wood, and chewed it up. So, I no longer have it.