This image is a wooden sculpture, a traditional Chinese art form. It is highly likely to be a depiction of "Jurojin," the Chinese god of longevity from Chinese mythology. Jurojin is generally depicted riding a deer or a mythical beast like the lion shown here. The wood is intricately carved, with the immortal's expression and beard rendered in fine detail. Such sculptures are traded as works of art and antiques. There are two scratches on the back. My grandfather purchased this in Macau in 1976.