Heh, this brings back memories of the smell of burning... well, everything - paper, wood, etc. Bought one as a kid back in my Soviet childhood. It was black, made of plastic but looked identical to this one. See that indent on the inside of the ring, a bit above the handle? It could be used to unscrew the inner ring and remove the glass lens, though it would the usually end up chipped due to falling on hard surfaces.

Fun times.