This appears to be a projectile or accessory from a toy, similar to those used in action figure playsets or rocket-launching toys.Toy Accessory: These items are often sold as replacement parts for specific toy sets, such as those from Fisher-Price Imaginext or older Tyco sets.Design: The item features a plastic shaft with a softer, textured cylindrical foam tip, designed to be fired from a toy launcher.Identification: Specific matches depend on the toy line, but they are frequently marketed as "red projectiles" or "missiles".