This is an excellent example of this late 19th century Australian craft, executed by a Japanese craftsman working in Sydney.
Jonaski Takuma was an egg carver between 1895 and about 1910 and had a shop in Sydney's Strand Arcade carving eggs to be mounted by silversmiths. The nationalistic spirit of the egg is evident in the choice of material and in the Port Jackson scene.

Takuma also used his talents for design and story-telling and his sense of humour to write a children's story "Kookaburra, the Laughing Jackass and the Black Snake" in 1896 (published by Geo Robertson & Co). It is not certain whether the story was written around existing carved egg designs, or whether eggs were carved to illustrate the story.

Source:

Powerhouse Museum