Ever seen one of these?

[Frog]

What am I?

I was in a box of junk that Frog ended up with, along with some cool German pens.

[Fresh Baked Printing]

Xacto blade sharpener?

[Frog]

That's my guess,  the red is a softish wood. I have only seen stones used. But when I have a box or two of 100, I always go to a new one. 

[Fresh Baked Printing]

Maybe the blade is supposed to be run through the wood to remove any burrs or to burnish the blade.
BTW, I still  use xacto knives and blades from my model railroad days back in the mid '70's.

[Denis Kolar]

That is a thing where you keep your x-acto blade. Instead of them just laying around, you stick them into that block and they stay there vertically.

[Frog]

You could be right, but how good could that be to keep a really sharp point really sharp?

With hyperdermic needles, when giving serums to our dogs, we even use one for penetrating the rubber of a vial, and another for actual injection.

[thinkdesign]

We used one to stick old blades in. Didn't want to throw them in the trash. Along with keeping the knife you were using at the time in. Not sure about how it kept the blade tip sharp. I never had to cut rubylith or anything, just stuff we pasted up.

[Artelf2xs]

Looks just like Gumby's Horse Pokie right before birth?

[MrBreeze]

We still use a thick cork coaster to park our exacto knives on our layout/work table and next to our exposure unit.  I don't think cork or a soft wood really damages the point very much.  Bad point, use a new blade, they're cheep.