It's a tuning capo.   

http://www.spidercapo.com/

The first obvious design defect is the lack of a strap or clamp round the back of the guitar neck - those little hooks on the side will soon rip your guitar finish off and they contribute to instability of in-out location.

The second obvious design defect is that unlike almost every other capo the cams that select the strings to fret appear to be unpadded - the Shubb and Kyser have a rubber pad, the Third Hand (which I don't like) uses rubber cams, and teh Scott Tuning Capo (which I do like and would like better still with a few simple mods like more adjustable camber and an arrow to tell you which way the camber is without squinting) can easily be modified with some superglue and some thick rubber bands (like peg loops for frame tents - not the round loops the flat ones) to give some accommodation.

The next disadvantage which is shares with pretty well everything except for the drop D and DADGAD impersonator Shubbs and Kysers is that you can't get at the frets for the strings that pass unfretted under the lateral bar - with a drop D Shubb or Kyser you can get your thumb over to play (say) the F# on the bass string and with the DADGADDY ones you can curl up your first finger and get it onto (say) the C# and F# (top string).