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Looked kind of interesting so I went to his web site looks like he tried mass-producing for a while till his manufacture failed to produce the product and then he went back to hand making them which probably explains the price difference.That's one of Randy Edwards' Bow Fishing Slingshots (Falcon Archery). THe handle is dyed laminated hardwood. The "pouch" is a piece of bowstring with a paracord loop for shooting fiberglass fishing arrows. The $100 price tag is surprising. They used to sell at SlingshotsUSA for about $50 with a standard hardwood grip (poplar, IIRC), and the custom grip was like $20 or so extra (again, IIRC). Check out some of the vids:
Bow Fishing Slingshot