This is a mechanical telephone pencil with a chain.  It was used to dial rotary phones and to jot down messages. This pencil is in good working order and has lead in it.  The pencil has a clear plastic knob for dialing and is approximately 4" long with an 18" metal chain.  It is in its original packaging and was made by Mascot. The case shows that it was a souvenir from Lake George, New York.