Bakelite or polyoxybenzylmethylenglycolanhydride, is an early plastic. It is a thermosetting phenol formaldehyde resin, formed from a condensation reaction of phenol with formaldehyde.

It was developed by the Belgian chemist Leo Baekeland between 1907 and 1909

One of the first plastics made from synthetic components, Bakelite was used for its electrical nonconductivity and heat-resistant properties in electrical insulators, radio and telephone casings, and such diverse products as kitchenware, jewelry, pipe stems, children's toys, and firearms. The "retro" appeal of old Bakelite products has made them collectible.

More Info: en.wikipedia.org