I originally thought that this Brooch depicted a Carousel Horse, but I now think that it depicts a Weathervane. Marked 'Sterling' on the reverse (only the 'ling' part is visible, the rest has rubbed) there are also some other letters - possibly the Maker's mark, but I cannot decipher them.
The Brooch measures 1 3/4 inches across and 1 1/4 inches down, and fastens with a safety clasp.
The Brooch is in excellent condition although one of the front legs on the Horse is very slightly bent. This is only noticeable at certain angles, so does not detract from the appearance of the brooch. The silver has a lovely patina, which I think enhances the brooch, but it could be cleaned up if you prefer.
Vintage Sterling Silver Weathervane or Carousel Horse Brooch