I'd like to know too...

My reading is: it's a prop. It does effectively nothing. The place it's from, while a market on the outside, is a theatre on the inside. There is theatre style seating, wooden swords, wooden statues made to look like stone, and Six/Enkei has been there many times and seen dramatic stories (plays). Heck, you can even (kind of) perform a play with Aamir, since he insists he is a dread pirate, and you can take out the wooden sword and playfight him.

The item then, was just a fancy macguffin meant to be exactly that: a macguffin in some kind of play.