On some fantasy world I haven't put any thought into, there's a form of gladiatorial combat that involves two male competitors, MMA-style (striking/grappling) to the second of two points. That ring gag should tell you how to score the first point. Its also there to reduce bite injuries to contestants. The handles are there to help keep a grip for how ever long it takes to get in and (cough) score (/cough).

There's a handle on the back to help one control an opponent as they work towards the second point.