This is most likely a vintage double-wheel pastry cutter and crimper, sometimes called a pastry jigger or double pastry wheel.
The two rotating wheels are designed to roll through dough. Similar double-wheel pastry cutters use one wheel to make a straight cut and another to create a decorative or fluted edge. They can be used for pastry, pasta, ravioli, pie crusts, and cookies.
WhyDoes It Have Two Wheels?
That is actually the clever part.
A double-wheel design allows the cook to create different types of cuts. One wheel can produce a relatively straight cut, while the other can leave a decorative, crimped edge.
Older versions were often used to make attractive edges on pies and filled pastries, while similar tools are still sold today for cutting pasta and pastry dough.