The item pictured is an Epica Star revolving leather hole punch plier (model P-50266).
It is used for punching clean, round holes in materials like leather, belts, plastic, rubber, canvas, and fabric.
The revolving head features six different hole sizes, typically ranging from 2.0mm to 4.5mm.
The tool has ergonomically designed, non-slip rubber handles for comfortable use and to reduce hand fatigue.
It utilizes a double lever mechanism to provide higher clamping force and save effort.