Vintage Wood Horse Pin Brooch

I have had the wood horse pin/brooch since I was a kid. I grew up in a small town, Del Mar, California where we have a seasonal race track. The saying is, "Where the turf meets the surf at old Del Mar". Maybe this was a souvenir at one time from the track, I don't remember. The pin might be 40-45 years old. I also lived only 45 minutes to the Mexican Border. Maybe the pin is from Mexico?

Length: 2" inches (horses head)
Width: 3" inches including the ears and 1 1/2" inches nose and neck or
1 1/4" inches measurement across the eye

The horse is wood with dark blue felt ears. The strap is brown leather on one side and suede on the other. There are no markings.

Any information would be appreciated.

Thank you,

Rita