The size looks right and i don't know what else the configuration of the beard on this figure is supposed to hold if not a keris. Maybe some other type of weapon? Maybe a parasol?
But from my own perspective if you put a keris in it, it is now a keris holder. Perhaps not the most traditional attitude, but that is what i would use it for if it were mine.
As for age, i agree that this one might not be particularly old. Perhaps is might be vintage rather than antique, or perhaps not that old either. Again, i do not specifically collect holders for their own sake, but as a place to hold and display keris, so while it is nice to have an older and more traditional holder i personally don't mind strange one-off characters like this hanging around as long as they are useful to the purpose and i find them appealing. This little fellow is to my tastes and if he were mine i'd keep him around and put him to work.
