This Pivot Plus Knife Sharpener is by Work Sharp, an Oregon-based manufacturer of sharpening kit.
Measuring just 3.5" x 1.7" x 0.75", the 1.2-oz device contains three sharpeners: A carbide V for removing metal, a ceramic hone to refine the edge, and a flip-out diamond-coated rod for sharpening those pesky serrated blades.
The red toggle you see is where the "pivot" in the name comes from. With the toggle slid inward, the carbide cutter remains in a locked position. Sliding the toggle to the left allows the carbide cutter to pivot—rock might be a better term—back and forth as you drag the knife through it, allowing the cutter to follow the curve of your blade.
Work Sharp sells these for $20 though, curiously, a Leatherman-branded version (identical except for the badge) sells for just $15.