Liu Baoshan should contact the nearest astronomer, and take this thing out at night to figure out how it works.
I get annoyed with every unknown object either being categorized as a "toy" or "religious object". According to most archaeologists ancient man spent all his time praying and playing!
Reminds me of arrow shaft straighteing tools I have found while arrow head hunting in my youth, but the two large holes would have to be at least three-eights of an inch in diameter or larger for this.
Looks like a pulley stay to me. Snake a rope through one end, loop it around a pulley or capstan and bring the same end back through the other hole and make an overhand knot. Now you can use this gismo to adjust the tension or length of the loop by pulling on gismo, when you release it, the tension makes the rope bind and it won't slip through.
The assertion that the design represents a constellation is risible on its face.