Inscription on lens says "У.С.П. Металлозавод Москва", at first bought as an exotic camera (that's how it was listed on eBay), later by conclusion of experts it turned out to be some kind of toy film or "Diafilm" (Children stories on diapositive film) viewer.
The metal "lens cap" is used to close the second eye while viewing, since it is to be viewed vertically.