Not a very old carving, but a pretty terrific one I think, looking rather like a ship's figurehead in her gold decorated crown, and wearing the sort of brave expression that seems poised to guide many a ship through a storm!  Carved into the back, along with a signature, is the location of Krakow, Poland, which, together with the crown, makes me pretty sure this is meant to be Jadwiga, the much venerated first female monarch of the Kingdom of Poland, whose reign began in 1384 and ended when she died in childbirth. Renowned for her charity, mercy, and devotion, she was officially canonized by Pope John Paul II in 1997--as “the most Christian queen.” Perhaps this was carved upon that very occasion. 

7" t x 3 3/4" w x 3 1/4" d. Carved to be mounted on the wall- sits easily on one nail or screw. Excellent condition, with a patina beginning to develop on the dry wood surface, which should just get richer.