An original factory OMC antique outboard motor tool.  This tool is used to install the transom clamp pads on all the smaller OMC outboards made from the 1940's to the 1980's and possible later.  See the photos of pages from the 1962 OMC factory service tools catalog.  Do the job right with factory tools. Remember, good tools are an investment not an expense. Look at the photos and email with questions.  Thanks for looking.