The statue is a replica of the Dalecarlian horses hand carved in Mora, Sweden. It was constructed and decorated in 1971 by the area Jaycees, and presented to the community "As a reminder of their cultural heritage and as a tourist attraction."
The Dala Horse is 3,000 lbs., 22 ft. tall, 17 ft. long, 6 feet wide. It was manufactured in fiberglass by FAST in Sparta, Wisconsin.
There's another big Dala horse statue in Minot, North Dakota.