My guesses are:
a) it's Melanesian, and
b) it was made by a native craftsman, following native patterns, for a colonial (probably German or British, given the area). Think of this as a cane for a copra plantation master, trader, or something similar. I've read about stuff like this, but never seen an example or a picture I could direct you to.
c) alternatively (less probable) it was made for the tourist trade, or for sale to WWII-era soldiers. My gut-level guess is that it's pre-WWII, but I suppose it could be younger.
F
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