Here's the production line version of it which was used in the paint shop Check & Repair area at Nissan, my first job there. As said, it needs a steady hand, even more so when the car body is constantly moving a car length every minute or less. In skilled hands it can be part of an arsenal of tools to turn a "dog" into a Paris/Geneva motorshow car- believe me, I've done it plenty!
In essence it's just a flat chisel made of tool steel but the angles it's ground at and the angle of attack are critical to doing a quick repair or consigning a car to a much more prolonged spot repair.
This one has been totally abused since I left Nissan, I wouldn't put it anywhere near a body now!
Regards,
John