It looks like a great piece of wood that's been rather crudely drilled and carved. With the shank extension and the unusual "band", it's kind of a Frankenstein pipe.
I kinda like it also. It does appear to be two different pieces of wood. The extension saved a pipe with awesome grain. Obviously, if it smokes OK and makes you happy when you hold it, it is a good pipe.
Winton
I say saw that shank extension off yourself and do something else. That ring on it is something I don't like as well.
But if you love it... More power to ya.
It was a beautiful pipe.
Once.
I like it, I too also go for the crude backwoods feel, that or straight up english traditional shapes, my likes vary widely apparently.
I hope it smokes well for you, its very neat looking