What is it actually? I don't know what it's original purpose was, possibly came with toys inside, candy possibly, used as a trinket box or a gift box. Whatever it's original purpose was, I believe this to be vintage, I found some similar that said made in the Philippine's. This box would be adorable as nursery or child's room decoration. Lay it flat and use it for storage or stand it up. I also don't know what exactly it's made of. It looks almost like paper Mache but it's sturdy almost like a thin pressed wood. Sorry, that's the best I can do.
Box measures approximately 11 inches high and 7 inches wide. Please inspect the photos.