A serrated blade & a utility knife. If you need to cut that rope, you've got a 3.5" serrated blade, but if you need to cut some drywall, just use the utility knife! Comes with nylon sheath.This outdoorsman knife cuts both ways. Out of one end slides a utility knife blade, and out of the other opens a 3-in.-long serrated knife blade that unfolds into use with a metal thumb stud. This allows you to open the knife with one hand. Having two different blades on one knife is a handy feature because there are some things that a utility knife cuts well--drywall, for instance--and other things that a serrated blade is better at--such as cutting rope, hose and fibrous materials. A serrated blade & a utility knife.