Adjustable bowed horse

Need Measurements.
Very good condition, just a few chips on the base crosspiece. (check the mark on the lower left front leg)

An unusual adjustable bowed lace pillow horse. The bone peg can be moved to one of three positions, moving the hinged hoop up or down. Taking out the peg allows the hoop to collapse down, probably for storage (check this). Unsure if the peg is original, it seems a little long for the purpose.

purchased 12/13/2019
first posted 11/26/2020