The fence is part of the Precious Moments Sugar Town series of figurines and accessories. It is stamped with the Butterfly production mark of 1993.
This fence has a bluebird sitting on one end. This indicates the fence is originally from the "Sam's House" set (531774), rather than the standalone fence (which does not include the bluebird). With other items from set 531774 there is no way to identify if they were part of the set or standalone if they bear the butterfly mark, but their value is the unchanged either way.
The fence comes in its original box.