This is a vintage new old stock item (NOS).
Effect: Performer inserts a white plastic arrow into a plastic framework, matches up the center holes, and fastens the arrow in place with a clip. He hands this assembly over to a spectator and asks them to draw out the arrow, but try as they may, the arrow can not be removed from the frame.
Now the performer does the impossible as he pulls the arrow from the frame and right through the metal fastener without removing it.
Everything can be examined.