Any guesses as to what this odd looking item is?
If you hail from the NE area you may know that it is a lobster pot buoy. This style was used many years ago and has now mostly been replaced with a new shape. The buoys not only identified the location of the pots but also showed ownership. They came in a variety of color combinations and I am guessing this too helped the lobsterman to more quickly identify his traps. There are different sizes, this one is 36" overall, the wooden part is 24" long and 3.5" thick.
This is a weight that was used in the pots, it's just a brick and usually three or four of these would be needed to to keep the pots on the ocean floor.
We found a similar buoy for sale on the internet for $85, just for an old beaten up piece of wood, LOL