I believe this is by the great cartoonist and puzzler A.W. Nugent (about whom we will be hearing more).
I like this for a few reasons.
First, as a creativity exercise it brings in new and unusual shapes and gives the students open-ended instructions in how to deal with them.
Second, it helps build intuition about geometry (particularly projective geometry).
Third, it looks like fun.
The one change I would make would be to get different shapes from the same crumpled piece of paper by moving the light source.