These horse tricycles are reproductions made to look old. They can be found in antique malls around the country, sometimes sold as authentic Victorian era Velocipede tricycles, other times a reproduction, worth a couple hundreds of dollars.
Notice the flat steel forks and boxy flat steel pedals. An original would not have forks or pedals like this. Also the steel tread over wooden rims is an instant giveaway that this is a fake. Most authentic antique horse tricycles would not have wooden rims.
From the picture this size, you should also be able to tell that the paint is relatively new and that the "wear" is simply a product of the horse being painted with various tones of brown.
