Ok, so this one isn't so much of a puzzle as it is more of classic children's toy. The Whirli-Gig, also known as the Whirli-Gear, button spinners, among other names has been around for thousands of years. To get a better idea of just how long they have been around take a look at this excerpt from Wikipedia:
"The origin of whirligigs is unknown. Both farmers and sailors use weather vanes on an ongoing basis and the assumption is one or both groups are likely the originators. By 400 BC the bamboo-copter or dragon butterfly, a helicopter-like rotor launched by rolling a stick, had been invented in China. Wind-driven whirligigs were technically possible by 700 AD when the Sasanian Empire began using windmills to lift water for irrigation. The weather vane, which dates to the Sumerians in 1600–1800 BC, is the second component of wind-driven whirligigs."
It is a testiment to the simply joy the toy can bring to child. The idea behind the toy is to "wind it up" and then pull out and release on the handles. The allows for the gear to rotate. The better you get at doing so the longer you can keep it going. Oddly enough, it is thought the Whirli-gig is a precurser to the yoyo's of today. Our version is handmade and assembled here in our Hudson FL shop.