The shape of the "jaws" suggests that this is a tinker's tool for forming a crease in sheet metal. The approx 5:1 leverage of the first stage would provide sufficient clamping to turn a short area at the edge of the metal, and the fairly narrow width of the jaws would allow the "crimp" to be worked around a curved surface, so the tool would be suitable, as an example, for forming the "groove" for the reinforcing wire commonly worked onto the lip of a bucket. Once the crimp is started with a tool like this, , and "formed" sufficiently to hold the wire, the rim can be hammered down around the wire to finish.

The apparent range of motion of the second stage of the compound lever doesn't look sufficient to close the jaws tightly, as would be required for any useful piercing or cutting application - or for any "animal" use I can think of.

This tool is similar to old ones I've seen intended for "setting" saw teeth as a first step in sharpening, but the jaw shape clearly implies a different purpose.

Just a guess, of course.

John