The story I was told is that it is a Birthiing Chair. Look carefully at the figure in the second photo on the front. It appears to be a lady with her arms held close to her chest and squatting with a pained expression on her face as she attempts to give birth. And the figure at the back of it with the smiling face could be the father trying to cheer her up as his large ears act as handles for her to hold on to as she is pushing.
Isn't imagination a wonderful thing or is that maybe an accurate description???