Excellent dialogue guys and some notions well worth exploring further.
I have looked further into the origins and firmly believe it is Solomon islands, 1940 up to and including WWII based on the design elements seen on other clubs from the regions, maybe a decade earlier

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It is I would say, due to the time period and all that was going on in those regions, a weapon and a protective amulet...others may suggest it was made and traded with occupying forces of the time....though in my opinion it has been used and handled too much for this...
A most unusual club of the region.
Vandoo, you must have something along these lines on your walls..what are your thoughts?
Gav