This cat figurine is part of the Franklin Mint Curio Cabinet Cats Collection. The collection was issued in 3 series. Each of the cats in the collection represents a different style of art.
This cat is from the second series in 1988 and it represents a popular Chinese lacquerware style, originating in the Song Dynasty, where cinnabar, a bright red mercury ore, is ground to a fine powder and applied with lacquer as a coating that can be carved away into elaborate designs. It measures approximately 2.3" tall.
Unfortunately, this particular cat figurine has a tiny chip on the edge of the base, which can only be seen from beneath.