Two elf figurines playing instruments. The big-eared elves are wearing green suits with pointy, green hats and pointy shoes turned up at the toes. One is playing an accordion or squeezebox, the other a long horn, like a small alphorn.
They are 4″ tall, ceramic or porcelain, and made in Japan. In good condition with no chips or cracks. Some of the paint was thinly applied, but I see no aftermarket damage.