The puzzle is to remove the ring from the chains between the two horseshoe pieces. Try this larger version to really get a feel for the puzzle.
The Horseshoe puzzle was included in the boxes of Uncle Sam's Puzzles from 1920 but as early as 1915 boxes of puzzles were being sold in Germany which included this puzzle then called the Ring of the Nibelungs which was shaped from wire. An oldie but a goodie. Still just as much fun as it was way back then.Size: 275mm from end to end of each horseshoe
The horseshoe puzzle is also available in a medium size.