This is obviously a dental surgery tool for use on the International Space Station. When teeth become infected, it's not cost effective to return home, so instead they wrap the loop around the tooth and then using the lever and spring to pop the infected tooth out quickly and easily (much to the viewing enjoyment of the other astronauts).

The teeth collected this way are then used for astro-science experiments and placed in a jar with a little bit of soda (usually Coke) and then they grow little space colonies and observe their findings.

http://www.neatoshop.com/product/the-Great-Stache-Clash
Size: M