The toy is expected to raise more than £3000 for international aid agency Oxfam, after being donated to the charity's Newton Mearns shop.
It was handed in by a local mum who bought it for her children who have now grown up.
The solid wooden horse cost more than £2000 when bought around 20 years ago.
Staff at the shop decided the best way to raise most cash was to raffle it in a competition to guess the horse's name.
Tickets for the raffle cost £10 each and 250 potential names have been chosen.
The winning name will be drawn on June 1 and, because the donor agreed to Gift Aid the horse, the value of the sold tickets could be increased by 25% –bringing the potential total to more than £3000.
Shop manager Lynne McLean said: "It's rare that something like this gets handed in.
"The horse is in immaculate condition. The raffle is the best way of getting the most for this wonderful donation."