What is it?

The drill part is pretty easy. Like Red says, the threads are puzzling. So does it bore a hole in wood and then create its own threads for some reason?

 

Maybe the threads hold it in a jig to bore something else precisely.

 

Definite possibility, but why the ball on the end?

 

Maybe they just wanted an immensely strong connection for those turning bars.

Maybe it bores through obstructions in pipes with inside threading