[MuddyMules]

But it was so close........thanks for sharing the other pictures Chris.

It appears to me that the "thing" the hand is holding is some sort of leather container, especially with the top cut like it is and the pattern on the black areas of the body. It looks like it has a snap type buckle (the black square), that would latch into the area that looks like an alien eye. Below that would be some sort of nameplate possibly for engraving your name on it or a name plate of the manufacturer with the rectangle piece below it being an engraving plate.

(edit) just another thought........it looks like a holder or holster for a tobacco tin. It looks to be the right size for one.