I have no clue, but I will take a stab (pun intended) and make a wild guess.
Back in the 1960's my Mother and sister would go to a ladies beauty shop and the hairdresser lady would whip out a tool that looks very much like your tool and she would roll their hair up.
Now only the Good Lord knows what would come next I think they must have used some kind of super glue and some heavy steel rollers (mind you this is just a guess);
followed by a hiar hat that was connected to an oven set on 500 degrees. No wonder they called it the dark ages...
