Splitter for old style (Reynold et al) roller chain as used on motorcycles and general machine drives.
Pretty common part of motorcyclists toolkit back in the days when we bought a box of the right size, but too long, and had to cut it down to length before fitting.
Squeeze the handle to pen the jaws, hook them over a sideplate in line with the roller and turn the handle so the crew pushes the pin out of the link plate. Repeat on the other pin and take the link out. Discard link and plate because they will almost certainly be bent.
Can’t handle the modern chains with need more push to get the pin out of the link plate.
Clive