This is a nicely carved collie dog by world renowned carver, Junior Cobb. (1941-2011) Junior Cobb is recognized in the folk art world as a master wood carver and you can see why. He was a self taught artist and his work is highly prized and becoming increasingly valuable.  This is a wonderful and rare example of his work!
He was from the Arkansas Ozark Mountains. He is known for his folk art carvings, and during his lifetime, sold to many famous people. He has pieces on display at the Smithsonian. This piece is special and rare because of the carving on the base. He described in one article written about him that he had a favorite dog  named "Wolfie". Wolfie was part coyote, and part collie. And since this was carved for his Mom, I believe it is a carving of Wolfie. I'm not sure of the wood, maybe pine because it has a rich earthy color. I believe he used stain on areas to accent the dogs' markings. 
  The carving has "For Mom" (with a little carved heart in a square between For and Mom) the date (1977) and Junior"s carved signature: "Junior Cobb" carved into the base. Including the base, it measures 
7-1/2" x 2-3/4" x 5-3/4". 
It is in very nice collector's quality, displayable condition. No marring or chips. It has a tiny indent on one side of the base that looks like it was held place or clamped there. This does not effect the diplay quality at all.