This vintage cup and ball game is based on the Kendama. Although unbranded and unmarked, the folk art wood toy seems to be crafted painted with Mexico national colors, It does not appear to have been used when rescued from an estate sale. It needs to be assembled properly before play. Please look at the photos.  The game features a cup attached to a handle, with a ball to be attached to a string. Your objective is to swing the ball up and catch it in the cup.
The item is about 7" long.