This is the 2003 Lenox Annual Christmas ornament, a fine ivory porcelain pierced teardrop-shaped ornament with gold accents and a gold tassel. Lenox annual ornaments are highly collectible limited edition pieces released each year, known for their intricate detailing and high-quality American-made porcelain. This example appears to be in its original red velvet-lined box with clear display window. The ornament features a lattice/pierced design with floral motifs and gold trim, consistent with Lenox's signature style. Ornament is in original packaging.