Copper pair with ferrite

Humble as it seems (or ghetto if you like) I'm told this is a very important piece of technology, that manipulates signal noise (in this case used for an I/O Box). Good to know, since it looks a lot like the things my boys leave lying around the house that I instinctively throw away. I mean, wire with what looks like a thick washer strung through it?!

Abigail