Thank you for submitting your item for appraisal. This appears to be a "carousel horse" of recent production. The Philippines have a long history in woodcarving, and most likely this horse statue was made there imitating european designs.
They were sold as "antique" since the last quarter of the 20th century.
The horse was most likely CNC carved and handcarved, then hand painted and patinated. Other production centers are China, Egypt and Mexico. The estimate is based on similar items sold or offered at auction.