The old 19th century carved wood goblets like this have been alternately described as being goblets and as being string holders for crochet or similar needle arts. They're actually quite rare to find, and, while this one is not perfect, it's the only one I've ever found with bears. More typically they have tiny intricate carvings of people. Full measurements noted on the photos.
Very good condition for age and type, the overall carving is unbroken, but each bear has a small loss, a paw or tip of nose - something. No rim chips, and it displays beautifully.