Seems the type of thing that I would want to carve in a piece to assure that the loops of a rope wrapped around to fix several pieces does not lose and remain in place keeping the structure intact. Art just by the sake of art is a possibility, but some purpose and tool making seems another prefectly valid option.

Some way to increase grasp to remove the hoofs or the skin, or to dry it better at a fireplace could be another possibility. The purpose of the piece could be art, or tool, or food processing (maybe even the three at the same time).