This reminds me of that amazing talking horse Mister Ed , a TV show that I watched as a kid. I can still remember that horsey voice saying, "OH Wilbur."
I think you can still find those shows online somewhere. We watched an episode recently and it was funny, but not as hilarious as I remembered it being. Entertainment standards were lower then, the bar has been raised. Sigh.
This motif is from a newspaper mail-order transfer pattern dating back to the 1950's. It's one of nine motifs for making a child's embroidered quilt or coverlet. The complete pattern can be found on my website under: Animals In Hats. But if you just want the goofy horse, here's the link: