A famous Kansas City carver by the name of Bobbie Thurman introduced us to this tool. It has two chucks that will take both 3/32" and 1/8" shank bits. Use it by hand with diamond or ruby burs to clean up your carvings. The two burs shown do not come with the tool.
(The 2 burs are: diamond ball - 308503 and ruby flame - 309220)