What a wonderful item for my virtual wish list! This is a vintage Russian souvenir toy. I used to have a very similar horse... Then another one... They were very fragile, no wonder, it is hard to find them now. I loved both of them and happy to have it my blog.
Hm... let me check google one more time... Yes! I have found it! I had exactly that little horse from the picture!
Wow, I see people are still making them! If I can reach this store owner, I will buy one!