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This thing probably doesn't really belong on this website for a number of reasons. The first and foremost would be that it is an "advertising specialty" which places in the most banal genre of pencil collecting, but in my defense, it is available without the ad. Secondly, it is not related to drafting pencils in employment or mechanism. Nevertheless, it remains on display because of the singularity of its mechanism, the fundamental elements of which can be inferred forthwith by examining the images and noting the instrument's similarity to a utility knife.

Replacement leads: A few of these can be stored in the barrel of the pencil and accessed via the black latch at the end of the pencil.