What is this thing?

A tobacco pipe. Thing with lid on goes in one end of the y-shaped bit, the long bit in the other. The lid opens, and the lid's there so you can smoke when it's raining.

Edit: For anyone interested in how I got this so quickly; my dad has an old similar one from his grandmother, she was a switch board operator at the start of the last century, and he got to keep it's when she passed since he's also a pipe smoker. I don't think he's ever smoked it though, so I've had one in my home for my entire childhood :)

I used to work at a tobacco shop and I've seen a lot of pipes and this is definitely a pipe but I couldn't guess where it's from. There are a lot of pipes and pipemakers out there. There are experts out that there that could probably work it out but I'm certainly not one of them.

I would check very carefully for a makers mark, most pipes have a make and model imprinted somewhere or the name of the carver. Often near the bottom of the bowl or along the stem near the bowl.

The stem looks like it was made by hand later. It's clearly a different piece of wood and finished differently. Leaving the bark on like that is unique and not very common. I would assume the original stem broke and the owner made their own. This may be why you haven't found a maker's mark as it might have been on the original stem. It's a neat piece and looks to be in great condition. Nice find!

Has me baffled.

Pretty sure that’s a meerschaum pipe.