They are a low-end, but decent quality import cue made by Kao-Kao. The importer was a Florida company founded and run by the late Harold Miller (who passed around 2003).
They are commonly found on eBay for under $50.
They commonly have the Cobra logo you have on your cue, and they also have a dove logo. The ones with the dove logo were imported in partnership with Steve Mizerak.
There was a cobra "Professional" pool cue series, but I do not know if yours was part of that line, as there aren't any catalogs or brochures available to cross-reference (that I am aware of). These still go for cheap, but they are a very decent cue for the money.
Yours looks to be a really nice older one, and I'd recommend keeping it as a playing cue. There is very little interest for Cobra cues so what you would get for it, I'd say its worth more to keep it.
Here's the cue in the KaoKao's catalog (ignore the model - it's the manufacturer's model number, not the "marketing model name"):