It is a horrible square-wave inverter with many voltage losses and very low output power.
With a 6V supply, the output of the 555 swings from about 0.2V to 4.6V when it has low output current.
The TIP41 and TIP42 each need a base-emitter voltage that is 0.7V.
Then the output voltage swing is from about 0.9V to 3.9V which is 3.0V peak to peak.
When the load power is 0.4W then the output swing of the 555 is from 1.5V to 4.4V and the base-emitter voltage for each transistor is 0.9V then the output swing is from 2.8V to 3.5V which is only 0.7V.
The voltage regulation is awful since it changes from 3V p-p to 0.7V p-p with a weak little load connected.
Ordinary Mosfets need up to 10V gate-source voltage EACH then the 555 cannot drive them.