A larger Leg Iron most likely meant for use in Chain Gangs and Transport situations where the standard-size one won't quite fit around a boot.
Quoted from the company spec:
The Model 505 is designed specifically for larger individuals. It has a 3.25 inch opening with a maximum inside perimeter over 20% larger than the Peerless Model 503 Leg Iron. The Model 505 is manufactured to the same standards as other Peerless products. It has all steel construction with welded rivets and a rust resistant nickel finish. 15 inches of compact flexible twisted chain join the cuffs. There are 22 locking positions with double lock capability. The Model 505 comes with two keys and has a lifetime warranty for manufacture defects.
Weight: 17 oz. Material/Finish: Carbon Steel/Nickel Minimum opening: 3.25 inches/82.5 mm Minimum inside perimeter: 9.75 inches/247 mm Maximum inside perimeter: 12.25 inches/311mm Maximum overall length: 26.0 inches/660.5 mm