This is a large, blunt hook with a long handle. You could use it for several things: you could check it out while a D.J. revolves it; you could have it bring you back (on that you can rely); you could use it as a prop for 'hooker' jokes; or you could use it to yank unpopular vaudeville acts off of a stage.

As far as useful purposes, though, you could just use it to gaffle more stuff from the monsters you fight.