This is a holder for drill bits (in my case Bosch Expert HEX-9 and similar) for an IKEA SKÅDIS pegboard. Has space for up to 24 drill bits. Unlike a normal bit holder this one is deeper so that the long drill bits hold well.

It is specifically made so that if you put a normal bit in, it will be easy enough to get out, but I would not try to actually use it to hold normal bits.