That's the Champion spark plug emblem so I'd guess it's a tool for cleaning a plug or gapping it.
That's what I found when searching on the web for "Champion CT483." It came up with a spark plug gapping tool, but I think that's a reuse of the part number. I don't see how that thing could attach to a socket without bending the blade on the end.
SteelonSteel, can you post a pic of how it works? My curiosity is piqued. [on edit] I see from the eBay link that Phil posted that it has a stub for the socket to fit on. That explains the mystery. So it's a rudimentary torque wrench. Added a picture from that eBay listing.
I tried a patent number search on the number Dan posted and it came up with a "pocketed table" describing the legs folding into pockets issued in 1924 invented by August F Wasmuth.
