Selector posted by Launcher, a control panel first shipped with Performas MacOS (7.0.1P, 7.1P…).
Available only if the extension was executed at boot time, then system patches are active: Finder can be not visible when another application is active, copy sends by default applications in the “Applications” folder and documents are saved in the “Documents” folder. Starting with System 7.5, these features are integrated (see ‘gprf’).