This is a unique collectible for the cycling enthusiast. It was created in 1897 and was carried as a portable cup. It is a "telescoping" collapsible silver cup. The style was patented on February 23, 1897 by John Lines. This particular cup is embossed on the lid. It says Cyclist's Cup. There is an image of two people riding a tandem bicycle (bicycle-built-for-two.) It was made in the U.S.A. It is a somewhat rare item and is worth about $75 if you can find one.
This gent might have carried one in his pocket
WINDSOR PLACE ANTIQUES 