What is this ?

Have a look at where it folds and corners they are the most common places for light leaks(based on personal experience with a old Pentax k1000 compabale unit)
 
Leitz Focusing Bellows For R Mount Cameras 16860, that's definite :D

The scale rotates for different FL lenses, a nice set of bellows if you have a Leica SLR.

Ian
 
Yes, it's the Leica Focusing Bellows R.

I missed the OP's post giving the mfr's name and that lever on the mount fooled me.
 

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