Yes, I did see that it extends and collapses. I played with it for like 10 minutes before deciding I couldn't figure out what it was for. Not knowing what to call it, none of my descriptive Google searches turned anything up either.
you stick in on your phone, or even a mod. then extend it. then you put fingers on both sides if it. this gives something more robust to hold on to = you can hold your phone without even touching it. and, extend it, sset phone on its side, it holds the phone at angle to see it better = like while eating diner at the table = a kick stand..