Stonecutter

The stonecutter is a block which can be used to craft stone-related blocks in smaller and more precise quantities than crafting. $$ it is unused and is only used as a decoration.

Natural generation
Stonecutters can generate inside mason houses in villages.

New Nintendo 3DS Edition
Stonecutters are only available from the creative inventory.

Stonecutting
The stonecutter can be used as an alternative to the crafting table to craft most stone related blocks. All of its recipes require one ingredient and produce one product (in varying quantities). It allows skipping steps to craft certain blocks: for example a stone block can be directly turned into chiseled stone bricks; this would require multiple steps with crafting. Stairs recipes are also more efficient than their crafting counterparts (yelding 6 stairs from 6 blocks instead of 4.)

Nether brick fences cannot be made from stonecutter.

Changing profession
If a village has a stonecutter and there is no stone mason villager, any nearby villager who has not yet chosen a job site block has a chance to change their profession to a stone mason.

Trivia

 * The stonecutter was originally added to Pocket Edition due to a lack of space in the MATTIS crafting screen, prior to the redesign in Alpha 0.9.0.
 * The stonecutter has never been usable in New Nintendo 3DS Edition, as its first version was based on Pocket Edition Alpha 0.15.4, two major releases after the stonecutter's functionality had been removed.