Now I have had more time with this item it is clearly from the Gulf of Papua but I am not able to asign it to any particular group of people. It is a spirit board or spirit dance shield and board, as the handle would not function if used in battle being to close to the board to grip hard. It is quite hard and heavy it may have been suspended on a cord. The two holes could easily take suspention cord as much as the decorative tufts seen in other board examples. I must say I am really pleased with it
This link has some nice stuff.
http://www.tomkinscollection.org/static/Oceania.html