This is a floating tip color insert for the original Apple Pencil Stand. This insert makes the pencil "float" inside the stand without the tip touching the base of the stand. This protects the tip from damage. The original Apple Pencil stand can be found below.
https://cults3d.com/en/3d-model/home/apple-pencil-stand-fits-gen-1-and-gen-2
The author marked this model as their own original creation.