The term is also the name of a category of craftable items that Tinkers make, though many of the actual items that could be called "tools" are made by other crafters, sold by NPC vendors, or obtained by completely different means (such as by earning Veteran Rewards or filling out BODs). However, Tinkers are able to create most commonly used tool variants, and those who use them often might consider taking the skill so as to be able to craft their own.
Some tools have limited uses, others do not, while even others only have limited uses on certain shards. Fishing Poles used for Fishing, Shepherd's Crooks used for Herding and Axes used for Lumberjacking only wear down with use on the Shards of Mugen and Siege Perilous.
Exceptionally crafted tools have more uses then those which are not.