Yes indeed. It is for making silk flowers. I would assume it is a quarter of a daisy like flower. These irons are heated and then silk is pressed in them. you can usually press several layers at once. In the are relatively rare and spendy because most had been melted down in WWII for use by the miitary.
Yes Tania you are correct - if anyone wanting such a lady in Australia has many for sale & I can pass on here email address to you & she would give you info how to use - E xx