The "'El Vaquero" is a stool / magazine rack made from non-traditional materials and designed for reading pop-gossip magazines. At least, that's what I could understand from this write-up on Design Spotter.
The stool was designed by Mauricio Lara for eos mexico. Their site is in Spanish, so I'm guessing that something in the explanation has been lost in translation. However, the design, which is bold, practical and appealing, is reading loud and clear.