A unique variant of the straight razor, it features a slightly tarnished metal handle with a polished silver blade decorated with ornate etchings. It counts as a holdout weapon and therefore can be smuggled into casinos.
It has a special 'Back Slash' attack, which does 70% damage in V.A.T.S. at the cost of 14 action points (requires a Melee skill of 50).
You can loot Sergio's corpse and take this weapon without killing him yourself (although the Kings don't seem to mind if you do). Simply harm Sergio, and when he turns hostile, the Kings gang member standing next to him will kill Sergio, yet not turn hostile toward you.
You can pick pocket and put a gun in his pocket with a small amount of ammunition, then shoot him with a weak ranged weapon, so he switches to his gun. Then hide the weapon after so Sergio can forgive you. When he turns hostile he will equip the gun instead of his melee allowing you to pickpocket it after.
Behind the scenes
The name is likely a reference to the Italian opera, The Barber of Seville, in which the protagonist is a barber named Figaro.
The ornate carvings might also be a reference to Sweeney Todd: The Demon Barber of Fleet Street.