This is a vintage cast-iron horse and sulky toy, also known as a trotter with a jockey. It is an antique collectible, likely manufactured in the early 20th century, possibly by companies such as Kenton or Hubley, but I can't find a mark on this toy. The toy features a horse in a trotting or running pose pulling a two-wheeled cart (sulky) with a seated driver. It exhibits significant paint loss and wear, consistent with age and use as a toy. Similar items are often sold as vintage collectibles for adult collectors and not as children's toys.