This paper scroll is from Tibet. It contains 'mantras', prayers repeated by Buddhists to accumulate spiritual benefits. It would probably have been contained inside a prayer wheel or a Buddhist figure.
Prayer wheels are spun by Buddhists, who believe that each rotation of the wheel, and therefore the mantras inside it, is as spiritually rewarding as reciting the mantra aloud. Wheels are generally spun clockwise, since this direction is considered to bring good fortune.
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