Such a sweet and curious little owl! The little branch on which it stands is hollow inside, which makes me think it might be a Japanese Natsuke (an ornamental togglelike piece used to attach a box, pipe, or pouch to the obi sash of a kimono), which, though most commonly carved of ivory, are also found carved of wood. It certainly seems it was created to serve a toggle-like function, but now, if balanced right, it will stand up in its own. It feels as if it has some age to it, and there is a nice, warm sheen and smoothness to the dark wood. Really a lovely little thing, which one could string on a necklace, hanging upside down!
2 1/4" tall x 7/8" wide x 5/8" deep. Very good vintage condition. There appears to be perhaps one tiny hairline crack on the bottom underside at one edge - documented in the last, highly magnified photo.