This is the Great Planes Standard (SAE) Precision Prop Reamer. It features three different drill sizes, to fit your various propeller and spinner needs: 1/4", 5/16", 3/8". This tool can be disassembled, and stored in a small plastic case that is included with the purchase of the reamer.
To ensure longevity of the tool, it's suggested to coat this with a light oil to prevent corrosion.