It is a tool used mainly for searching embedded files and executable code within another data file.
$ sudo apt install binwalk
$ binwalk -e <file-name>
Here in the above image, we see that there is a 'jpg image' that has a compressed 'images' in it and we see that it is, it is embedded within the jpg image file. To extract it we can make use of a carving tool dd. It can carve out data from specific offsets that are passed as arguments to the tool along the with the file that needs to be read. Give the following command:
$ dd if=deeper.jpg of=image1.jpg bs=1 skip=202
For more information about the tool,
$ man binwalk