This item is a promotional tool, probably given as a premium by the
watch manufacturer. It is also very handy. The tool fits over the
finger and provides a steel tip which can be used to hold things down
or otherwise hold things that are small, or that shouldn't be touched by bare
fingers. Perhaps the old methods are not always better, but they are
always interesting.
I believe the original purpose of this tools is in letting down mainstrings,
allowing the click to be held back with the same hand as is holding the
movement.
The tool is marked "Illinois Watch Company".

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