This is one of the wooden puzzles that was on sale in London in the 1880s and 1890s that Hoffmann did not include in his book.
The puzzle is how to remove the plug, strings, and beads from the cannon without untying the knots.
As shown, the loop is not big enough to pass the red bead through. The breach does not come out but the boxwood plug at the muzzle does. If you pull the plug right out, the loop, which is attached to it, is still not big enough; and you also then have the problem of getting it all back to the starting position.