Stonecutter

The Stone Cutter is an upcoming Pocket Edition exclusive block. It will appear in Alpha 0.6.0.

The stonecutter's primary use is for crafting stone and stone-related items, such as Block of Quartz, Stone Bricks, and Bricks. . Mojang have created the stone cutter to remove blocks from the inventory crafting. It will be removed once the MATTIS system is discontinued.

Not much is known about this block as it is a Pocket Edition Upcoming Feature 0.6.0. and will be released into the game as of Wednesday, January 30th.

Crafting Recipe
The stonecutter is crafted with four Cobblestone. Therefore, you do not need a Crafting Table to create this block.

Trivia

 * The reason for the stonecutters creation is to make the crafting table less full. It will likely not be added into Minecraft PC, but could be added to Xbox as that also uses the MATTIS crafting system.
 * The texture for the stonecutter appears to use the furnace texture as a base, with a few additions.
 * The texture appears to have a Gear on it.