This item is an antique German porcelain fairing miniature figurine traditionally known as a "Pig (or Dog) in a Chamber Pot".
Inscription: The gold-gilt text on the front reads "Morning Exercise". This is a piece of late 19th to early 20th-century Victorian humor.
The phrase playfully refers to the morning routine of getting up to use the chamber pot.The Figure: While often referred to in antique circles as a "fairing pig," many variants feature features resembling a small dog or puppy peering out over the rim.
Origin: These miniatures are called fairings because they were originally manufactured in Germany and given away as prizes or sold as souvenirs at carnivals and fairs across Europe and the UK during the Victorian era.