This is a German tin noisemaker with a great design, so typical of the care those artisans took in crafting their Halloween goods, made strictly for export. As I point out on page 7, "Sometimes a D.R.G.M. mark is seen. The initials stand for Deutsches Reichs-Gebrauchs-Muster, which means German Federal Registered Design. This mark was used in Germany from June 1891 through early 1945, and then only on items that had more than a decorative purpose."
Mark B. Ledenbach's vintage Halloween collectibles blog.