The Wooden Turning Blank is a component added by IndustrialCraft 2. The Wooden Turning Blank is modified in a Turning Table to whichever pattern is preferred.
The Wooden Turning Blank is divided into five sections, and each section has five units of thickness. The thickness is clipped off in a Turning Table with the Lathing Tool to reflect a particular shape. Hovering over a Wooden Turning Blank in the inventory and shifting will show the thickness of each section in the tooltip.
The Wooden Turning Blank currently isn't used any recipes, although it may be in the future.