I'm pretty sure this isn't photoshopped. Yes, you're looking at a homemade hand-wound transformer used for welding. I don't think the UL has given it their seal of approval.
Good Lord!, That has to be one of the silliest things I've seen in a while. What are them "transformer" laminations made of? Looks strangely like cardboard and the last I heard that isn't ferrous.
Let's face it, these days if you're not young, you're old - Red Green
I bet it is just rusty old roofing metal or something. The transformer does look like it would work if those laminations are insulated from each other.
I have seen those photo's on the net too. It appears to work although all electrical connections are not shown.
I like to see the supply point and mains cable terminations, although quite likely to be twisted to a live cable somewhere in that area where the welding work was carried out.
The product of rotation, excitation and flux produces electricty.
