Looks like Santa went to the circus and came home with a miniature horse! Indeed, a darling carved horse figurine dangles from Father Frost's hand. I believe he's looking for just the right person to give this trick horse to; might it be you? Santa's robe and hat, and even the blanket on the horse, are decorated with gold foil work. The bottom is signed by the artist as "Kikin Studio." It is hard to look into Santa's beseeching face and not melt and take him home along with the horse.