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A flip mirror unit is used on astronomical Telescope and other optical instruments in order to send the light from an object in new directions using a small mirror which can be moved into the lightbeam. It's a mirror-diagonal that holds both a camera and an eyepiece, and allows you to switch your view between them by flipping a Mirror up or down. It is used to center the object in your camera and to help you focus it.
References
Flip mirror Wikipedia(Text) CC BY-SA