Peavey.
Valve? spring compressor.
I don't think that is right, but it is what popped into my mind. I've seen that tool in several old farm shops, and almost feel I've used one, but it was so long ago I can't remember.
Bruce
My guess is it is a chain tensioner like you see on transports, feed the chain through the hole and insert the hook into a link and pull the handle down.
Peavey.
That was my thought as well. I don't think it's properly a Peavey because it doesn't have a spike in the end, but it's some sort of cant hook. A tool for gripping and rolling logs.
How big is it?