The Magic Sword Illusion was invented by Moritz Henrich Boninger c. 1932. This El Torero version of the Boninger’s idea was released c. 1950 and proved to be very popular. What was great about this version was the chain contained the bull’s head which was permanently attached and not easy to lose.
You can see other versions here.
Effect: The Magic Sword Optical Illusion is the latest version of a classic illusion where a sword amazingly penetrates a solid object. It can be repeated many times and will still fool you. If you are not familiar with how this works, and most people aren’t, you will be completely amazed as you see the impossible happen.
The overall size is around two-inches round and a half-inch thick. This version is a plastic toy that is very inexpensive and will not last forever. It is not as sturdy as the old metal ones that used to be made. Very easy and self-working.( Post Source: martinsmagic.com - click for details )