The wooden disk is a quest item used in The Fremennik Trials quest during Peer the Seer's part of the quest. It is found upstairs in his house by studying a mounted bull's head. It's turned into a red disk by using some sticky red goop melted off of a red herring also found in the house. The red disk is used on an abstract mural downstairs along with another old red disk in order to obtain a vase lid needed to complete Peer's challenge.
