This is a charming, vintage LLADRO Figurine, #05279, designed by Jose Puche, and introduced in 1985.  It is PIERROT/CLOWN with PUPPY and CONCERTINA.

The gray and white puppy is standing on its hind legs on top of an oversized Dice Piece.  Perhaps he is trying to dance to the music or cheering up his master.  The piece is about 6 inches tall, in mint condition.  No chips, cracks or repairs.

A fun find for a Clown/ LLadro collector.