Lock-out tags are different for plumbing than the ones they use for electrical.
I think in this case the tags were more likely tamper seals. Like the old seals they put on gas, plumbing, and electrical meters. Sometimes they were lead seals, sometims plastic tabs with wires, etc. They are designed to keep the public from accessing srvice connections. More for security back then rather than safety, I think.
Some gas valves have weird handles. That first section might fit some valve perfectly. The 2nd section could fit a valve stem, just under a handle, and the hex could fit a oscking nut. This all points to water, rather than gas, service. So my modified swag is "water service or meter plier."
Chilly