This magic wand was created by Jadis, the White Witch, sometime before she entered and conquered Narnia in 898 NT. She uses it to turn things into stone, her preferred method of disposing of enemies. Notable Narnians turned into stone include an entire party of Christmas-celebrating forest Narnians, and Tumnus the Faun.
Her wand is eventually destroyed by Edmund during the First Battle of Beruna, who has the insight to attack her wand instead of herself, which would be futile. After her wand's power is broken, the Narnians win the battle and Jadis herself is killed by Aslan.