This Royal Doulton figurine is part of their Disney Winnie the Pooh series, which began in 1996. As part of the Wild West Collection it depicts Pooh sitting by a drum, with his arms folded and wearing a large Indian headdress.
This figurine is made of stoneware and measures 4.25" tall. It was introduced in 2004 and it comes new in the original box.
The design of this figurine is based on illustrations by Ernest Howard Shepard, who was responsible for most of the illustrations for A.A. Milne's Winnie the Pooh books.