I believe this gouache/watercolor with hand-applied gold leaf details is Thai, 19th century I would guess. And I know for sure that this fantastic creature is the mythical Ghilen, which has its origins in Chinese culture (embodying the combination of earth, water, fire, wood, and metal), but with Thai representations distinguished by the depiction of two, rather than one, antlers. And I just think it's fantastic looking, rendered here in lush blue and red paint and made especially radiant and through the application of gold leaf, which catches the light and makes it feel quite regal and alive! Fairly large, on a heavy, stiff paper, I would guess this was once part of an illuminated manuscript.
14 7/8" x 11 1/4", watercolor/gouache and gold leaf on stiff, heavy (mulberry bark I believe) paper. Very good condition, with some general light spotting/soiling to the paper and a bit of curl, but will lie flat.