I would guess this whimsy was made as a rattle for little one, to be shaken on one end and chewed on the other (though fortunately there are no tooth marks!) I think the elongated, slightly undulating form is really elegant, and also pretty unusual, and the loop end is perfect for hanging from a nail, though it does stand up on its own. I think the wood is walnut, and it definitely has a fair amount of age to it. 

6" long x 1 3/8" wide x 1 1/8" deep. There are a few hairline cracks visible on one "wall"" of the cage as pictured, fairly minor and not seeming to threaten its structural integrity, and there don't appear to have been any repairs.