This is from a comedy sketch in Thailand based on the folk tale of Sudsakorn (สุดสาคร), which is about a boy who is raised on an island by a hermit (rishi, or “ruesi”, “ฤๅษี”).
The hermit gives him a flying horse-like creature known as a Maa Ninmangkorn (ม้านิลมังกร, Jet Dragon Horse, or Jet Makara - In Hindu mythology, a Makara (मकर, Thai: Makorn, มกร, or Mangkorn, มังกร) is a reptile that is the mount of the sea God Varuna, and the river Goddess Ganga of the Ganges River) to shorten his journey to find his father.
The Maninmangkorn in this comedy sketch is represented by a green Chinese lion-dance set, which is then transformed by the hermit into an adorable, ponified (kirin-like) Maninmangkorn. Here is what that creature would normally look like: