Never heard of an instrument called that... but I have heard of a few pedals with similar names that add a note an octave below the one being played. Is that what you had in mind?
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Owner/The Bass Spa, String Repairman/L & M Vancouver
Join Date: May 2006
Location: Crescent Beach, BC
Ah, octobass! Moneta's only needs one operator, it has levers to do the fingering, a little like a pedal steel.
Nicola Moneta is the premiere player in Europe. I have a link to a great lecture that included video of a trio with violin, cello and octobass but its gone 404.........
Here's Moneta's site anyway and the Wikipedia entry to get you started Peter - links and Google should help you from there.