This is an antique Japanese military sake cup, decorated with a horse's head and the words "Ishikawa Horse Breeding Center" "Commemoration" "Opening Ceremony". There's a maker's mark on the back. I checked some sources that suggest that this center was one of a series set up by the Japanese government to breed horses, mostly for war. Japanese horses were traditionally pretty small, and to breed bigger war horses meant importing foreign horses and set up places for them to breed - which is why something like ten centers were built for this purpose, the Ishikawa one being set up in 1903.

Condition: Excellent - very light fading of the color on the horse's head

Size: 3" across