This is a torch sconce that hangs on the wall. It has light effects and animated fire, but what makes it unlike most wall torch holders is that you can take the torch off the wall and hold it by touching it (they will then have to give the torch permission to attach to their hand). It is basically a torch dispenser as well as a wall light fixture.
The owner can set lighting options, permissions for who can take torches as well as how long the torch takes to respawn once someone has "taken" it, and how long the held torches last before they "burn out". If you want to see it in action, visit the store and touch one of the torch sconces there.
**Please Note: In order to dispense torches, the sconce must be rezzed on a parcel where the torch's owner has building permission. If the owner can't rez things there, the torch script can't either.**