I’m about 95% sure I saw something like this being offered for sale by a local medical supply store when I was a child in the 1960s. I was probably age seven or so at the time. I can’t remember whether I saw it in a newspaper ad or a store window display. It might have been both.
The restraint consisted of a relatively wide nylon waist belt with two nylon wrist cuffs attached to the waist belt by adjustable-length nylon straps. The idea of course is that the child will be unable to bring their hands up to their mouth.
The purpose of the restraint was to prevent thumb-sucking and/or mail-biting. I should have also added that I was quite the mail-biter at this time.
As I recall, the restraint was available with waist belts in two or three different widths.
I think my initial reaction was probably something like “I have nothing to fear. MY parents are enlightened and modern. They would never put such a thing on ME.”
(Maybe my subconscious mind was saying something different: “Are you really sure about that? What if they were thinking about it right now?”)
I mention this only because I consider this roughly analogous to the use of a chastity belt to prevent masturbation: a “solution” to a nonexistent problem.