The tool is a strip/plank bender. This is one of the most important tools for ship modelling. This helps with ease when your trying to bend varying thicknesses of strip wood. With this you can also form tight or easy bends, and if needed put a twist in at the same time. This bender comes with 3 sets of inserts one set is already fitted on head of the bender in the package, but shows it removed in the picture. This bender can also be used to bend certain types of strip metal as well.
Please note that with the 3 sets of inserts you can do the things pictured in the photo, buy combining the different inserts