a basically, 목주 a mean kind of bracelet make a wood beads . popularly, buddhist use a this for a meditation and pray.

What is the context? 목주 has several meanings according to the context. The typical meaning is "wooden pole". But it is rarely used in daily life. BTW, 목주 often can be seen as a misspelling of 묵주. 묵주 means "rosary" 목주 반지 is a misspelling of 묵주 반지(rosary ring).