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This looks like a nifty period appropriate aftermarket spare tire lift/carrier. Sort of like the more modern day cable crank systems but it's just a cable pull-up using a somewhat longer handle as leverage. The hook in the first picture before it is installed shows that they had at least applied for a patent (PAT. PEND.). Would be cool to find one in the box. It is a 1967 or 1968 as you can tell from the back-up lights and Serif font on the tailgate letters. From a November 1967 publication so I figure it can't be newer than a 1968 model.
I was just looking to see if I could find the patent for that Cougar device if it ever received one and haven't found that yet, but I did find the patent for a cable crank lift system - one picture available showing the design concepts - 1972 application date. This Cougar device might have been the spawn of the cable crank idea.