The Eccentric Cutting Frame is a variation of the fly cutter, but the cutter's body is held in a drilling frame. The cutter is spinning along the same axis as the drilling frame, but eccentrically from it (like the eccentric chuck).
John Edwards has a great web page about these devices.
Work made by an eccentric cutting frame is shown to the left.
There is a hand-operated version of this tool, which is called by some a Pearling Tool.
Balancing the eccentric cutting frame is very important, and the video below shows Jon Spencer's design for that. (Jon is a great resource for cutting tools.)