It's a decorative ornament. It looks like the Lodge ash tray, with smaller side spouts.
The Lodge website says you can use it to warm olive oil, melt butter, or toast spices.
I say if you're going to get a tiny skillet to do the above things, get the 5 inch, since you can at least cook a breakfast sandwich egg in that one. I'm not sure an egg would fit in this one.
Some have witty sayings printed on them, such as "We don't cook much in this house," "Diet skillet," or "Honey I shrunk the skillet."
I'm not sure I like any of the witty sayings. I wonder if they make customized or personalized ones?
The only reason I'd buy it is maybe for Christmas presents. Now that's an idea.