Dear Deborah,
Thank you for contacting Mearto with your appraisal inquiry. Your figurine is called a Dresden Lace Ballerina and appears to be in good condition. It was made by Müller & Co, Thuringia Germany, in the 20th century. The mark on the underside was used by the company between 1907 and 1949, but figurines like yours were popular between 1920 and1940. Dresden Lace refers to the realistic look of the ballerina's tutu. Based on recent price realizations for figurines similar to yours fair market value would be between 35 and 50 US dollars. Please let me know if you have any questions.
Best Regards,
Morgan