I assume this little structure is meant to represent a water tower, and I'd guess it was made as part of an elaborate model train set up--which, if so, I'd really love to have seen in full! I just love it as a painstakingly constructed little object, complete with this terrific pointy roof made of what appears to be strips of bark. I'm not sure if the rest of it is constructed of actual matchsticks or just matchstick-like little sticks, but the effect is the same, and I'd count it among may favorite matchstick creations!
Good condition, with I think one missing horizontal stick on the lower half, and what appears to be a chipped-off edge in the round "floor" on which the water tank sits. 3 3/4" tall x 1 1/2" in diameter.