It looks like a flare gun....
No it doesn't it's too square, looks like a purse or something else that may be square (See attached image)
Edit: Jetz beat me to it
What? No. It's a purse... The purse. The one in the pyro's locker possibly.
I doubt that, as said before, the Pyro is voice acted by a male, thus having a male's voice, and listening to the voice clips of the Pyro, it sounds more like a male, than a female, even with the mask muffling the voice, it sounds more like a male