It sounds like it MIGHT be the steering wheel for the 67 MGB GT-Special.
This was a trim package from the motherland and one was given to each
dealership (total of 1000) to comemerate the ??th aniversery of MG, it
included: a wooden steering wheel (like the one you describe), chrome wires,
wooden gearshift knob, a plaque on the glove box and a badge on each front
fender that said "MGB GT SPECIAL".
Most of these badges have disappeared from the original cars but the steering
wheels usually give them away.