The color and decoration on this one is just fantastic--every bit as brilliant in hand, and even better--and what wonderful tiered carving of that abdomen! This is a folk art ice fishing decoy/lure, c. 1930s-50s I believe, perhaps representing a giant blue and green fly (those eyes!) or wasp???  It took me a bit to notice, but I think there were likely once wings extending from slits in the sides of the thorax, and one wire leg and one antennae were also lost along the way--sacrifices in service of the catch, and indeed the patina on this definitely seems to indicate that it was actively used. With a lead weight inset into the underside.

Carved wooden body measures 6" long.Sound and sturdy, fantastic color, excellent patina. One wire antenna and one wire leg lost and I believe likely there were once wings extending from the slits in the sides.