I don't know much about this item. It's a vintage boat pennant / flag depicting a prancing horse. It probably dates to the 1950s and judging by the fraying towards the end saw a fair amount of time in use.

 

It has been framed in a burr wood moulding. A good, decorative piece that is ready to hang. 

 

Including the frame it measures 55.5cm wide x 45cm high x 1.5cm deep. 

 

UK Mainland P&P would cost £10. 

 

S/N: #1468