It took some searching but I am fairly certain this carving was made in Jerusalem, late 19th/ early 20th century I believe, quite wonderfully carved of beautiful olive wood, with a combination of symbols arranged to form a sort of cross, arrow on one diagonal, what I take for a club on the other, Bible at the center. Someone more knowledgable that I might readily discern the symbolic meaning of each object, but as with Masonic imagery, I'm quite content just to enjoy the very purposeful looking configuration! Really quite a beautiful and also rather mysterious feeling carving. 

5 1/2" x 3 7/8" x 7/8," excellent antique condition.