I found this 5" x 3" bottle buried in the backyard. Appears to be Owens-Illinois bottle.
Any thoughts to its identity?
You are correct, Owens Illinois.
If you go through this 1933 O-I catalog, you will see similar shaped jars that they call "preserves" and "packers" - food related
See also https://sha.org/bottle/oi1933.htm
which lists other sections of this same 1933 catalog...without a label on your jar about the best you can know is its general intended use.
Here is the design patent (ignore the typos - apparently The Google gets its "Bs" and "Rs" mixed up!
Thank you all for your helpful comments--Layne