This is a custom-designed balisong, commonly known as a butterfly knife. The defining characteristic of this weapon is the fan-like opening of a freely pivoting blade, allowing rapid deployment or concealment. As a result, butterfly knives are outlawed in many countries. It has been painted using a spider web-patterned hydrographic over a red base coat and finished with a semi-gloss topcoat.
Be careful where you walk, you never know where the web is spread