It spins, and is gear driven so you can accurately rotate a part x amount.
You bolt this to your mill and bolt the part to it. Now not only do you have a x,y and z axis you have a 4th axis that rotates.
Handy for manually milling circles or doing bolt patterns the easy way.
Not useful at all if you don't have a mill to attach it to.
If you don't know what it is, you probably don't need it.
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