This is a meré, a hand axe that is primarily decorative, ceremonial, and used in haka and dance performances by Maori people in Aotearoa (New Zealand). Historically, it was a weapon. It is sometimes also crafted out of pounamu (jade).
Pounamu (New Zealand Jade) Maori Toki by master artist Tyson Lynes. The toki is the blade of and axe with which the great war canoes were carved from giant trees so is said to represent a crafts person or artist.