That is a color variation for the Engraving Blade Holder (original: Item 74139), with all the handle in bright red. It can be used using the wide range of Tamiya Fine Engraving Blades and Needle.
• Engraving Blade Holder (Red) x1
• Length: 126mm, diameter: 6mm.
• created from lightweight, durable aluminum, with a knurled grip area for error-free crafting. The chuck is constructed of nickel-plated metal.
• The holder’s slimline type permits it to be held like a pen.
• Blade insertion and reduction is straightforward – just gently pinch the chuck and turn the handle.
• Comes with a protective cap which also prevents the holder from rolling away.
• Compatible with Fine Engraving Blades (products 74135-38, 74145), Needle (Item 74148) and Design Knife Blades (product 74074).