broketooth-
That is an old tapered blunt arrow for popinjay archery. All us Belgians know that. :D We had this old dude name Maurice that made his own, though they weren't quite that fat on the end, and his were also fluted! All wood except for a thick phenolic ring glued to one end. I remember them to be gorgeous arrows. He shot a lemonwood selfbow with horn knocks, and I don't think he ever missed by more than 1/2"! (I might add that he was about 80 years old at the time) You were basically trying to knock a "bird" off of a rack of steel pins or rods, about 20 yards away. The original game was shooting to knock "birds" off a vertical mast, but it can be set up horizontal too. You can do searches, but here's a pic of what we used to shoot at.
http://www.belgianhall.ca/clubs/index.php You had to hit the pin, just in front of a peanut sized plug that was tapped onto the pin to knock the bird off. Simple... knock the bird off and win some money! A round would last until the top 5 birds on that rack were knocked off. In my day, the small birds were worth .50, the kalles were worth .75, sides worth about 1.50 (depending on # of shooters) and the top bird was $2.00 or more. At the end of the night, we'd have a king shoot. Everyone paid X-$ to shoot at the top bird and the first to knock it off won the pot. Everyone who paid got to shoot. If more than one knocked it off, there'd be a tie breaker round. There were, and still are tournaments where you shoot for score though. Back then, the most durable arrows we shot for this sport were microflites. It took a lot to ruin one of those.