Does Anyone Recognize This Precious Small Glass or Ceramic Figurine Handpainted in Italy

I believe this darling figurine may have been purchased by my nana at some time, on one of her several trips to Europe. Interestingly, she was born in Italy & later adopted by an American couple. So it may have come with her, or she got it later. She was born in 1918 & I imagine it could not have been acquired by her, or another female member that lived at the ancestral home, any time past 1970s. I hope that someone out there might have more info regarding this darling item as I am very interested in knowing more about it ;-)