What Is It???

Today we have before us an item from a goodie bag I received. I have puzzled over what this is and what possible utility it may have. Do you have a clue? Can you enlighten me?

On the right you see it in the closed position. The wire clip on the back looks to be a belt clip or ...







Here it is opened. The black interior is a hard(ish) rubber pad.







Here is another view of it open with the pad more exposed. The piece at the bottom is the latch to hold it closed and when pushed lets it open.







And finally here it is closed again.








It was given out to a diverse audience and is used as a promo piece for a university, so I believe it must:

• be desirable to prospective students
  
• have a  use or function for a general audience
  

It has no electrical parts or function. What you see is what you get. The best guess I have been able to come up with is a belt cable clamp, but given that there is no widespread use or demand for such a thing, I am pretty sure that is not correct.

So what is it? All guesses encouraged.