This vintage  is the Holly Christmas carousel horse from 1989. Holly is the 2nd ornament in a collection of four, the other carousel horses were named Ginger, Snow, and Star.

Holly is grey with an ornate saddle with red, green, blue, and gold details. The back of the saddle has her name on it. There's a gold wire with a loop at the top for hanging the ornament, but it also has a flat base so it can be displayed on a shelf.

The base of the ornament is gold and the bottom is marked "Holly, 1989, 2nd in a Collection of Four, Hallmark Cards Inc."

The ornament has been displayed, so it shows some light wear but is overall in good condition.

Measurements:

Height: 3 inches (7.6 cm)
Diameter of base: 2 inches (5.1 cm)