I bought these for my sons, niece and nephew in Delhi. It is an ancient collapsible wire toys that could transform into (I dont know) 12 different shapes? or more.
It can also be used as bracelet or hair accessory. My sons use it to hold stationery, fruits, glass, milk bottle and a bowl. It allows them to be creative.
Although the wire shape was claimed as a symbol associated with other religions, but let's not go there. For me, it is just another topological toy.