This is a vintage wooden lion's head called Shishi Gashira from mid.1900's.
Originally, it was used for dancing during festival and play and beleived that it has meaning of talisman, also good luck. It is usually red and black.
During dancing, Shishi opens the mouths and bits people's head because Shishi eats evil sprits and sickness so sometime, the decoration of Shishi gashira opens and closes the mouth.
Only only good luck home decor, it will be great accent for your home.