One of the TAVERN PUZZLEs® by Tucker-Jones House. The objective is to remove all of the rings from the shuttle. This is advertised as "very difficult" by Tucker-Jones. I personally advertise it as very boring!
This is more commonly know as the Chinese Rings puzzle. Although it is most often thought of as a disentanglement puzzle, it is probably better classified as a sequential movement puzzle. The Ingenious Ring Puzzle Book by Ch´ung-En Yü, published in 1958 in Shanhai, indicates that it was very popular and known to almost every Chinese family during the Sung Dynasty (960-1279). It was originally used as a lock.
It was also very popular in Scandinavia, where it was also used as a lock. In Norway, it has been known as such for centuries. At the National Museum of Finland it is exhibited as a traditional folk toy with the name Prisoner's Lock.
The puzzle can be expanded by adding rings. Each additional ring doubles the number of moves required to complete the puzzle. If this five ring puzzle, which requires sixteen moves, takes a couple of minutes, how long would it take if it had twenty rings?
TAVERN PUZZLE is a registered trademark of Tucker-Jones House, Inc.