This is a very small weaving loom. Once you had the thread or yarn, you would set up your loom and weave it to make cloth. This was more of the man's job, where the spinning wheel was more for the women.
here are many more addictive weaving tutorials to try this summer which you can even learn online. You can find websites with videos where the whole process can be viewed. Weave beads on your clothes and even decorate your homes with your weaved articles.