I don't know where I originally saw one of these gadgets. It's been five years or more since I first saw it. Someone was selling them for $10. I made me one from a drink cup which worked ok but kept tipping over on me. When my brother started remodeling his house I asked for a small piece of wood to use and explained why. He surprised me one day by bringing me this.
It has a hole drilled into the center. The seam ripper cap is glued into the hole. So when it's not in use I can cover the dangerous point. I simply pick up the point part and put it down into the cap.
This is how it's used. It sits on the table, I pick up the chain sewn pieces and pull the connecting thread onto the sharp part of the seam ripper. It's a lot quicker than using nippers or scissors.
I did glue a piece of shelf grip onto the bottom to keep it from sliding around the table.
I'm all for anything that saves me a few seconds here and there. Those seconds soon add up to minutes. By making one myself (or rather brother did) I saved a few dollars too.