This is a small version of the GoPro Hero 3 Lens Hood. It features a smaller lower profile that shouldn't interfere with under-slung gimbals rotation (like the Zenmuse Gimbal for DJI Phantoms). It still has a large enough surface area to cause potential problems when flying in higher wind conditions, so keep an eye on things.
Like with all lens hoods, it creates a sail effect. While it does reduce glare and scanlines, it can re-introduce jello. Your results my vary.