The finish was quite detailed. Here I am adding fake shoenails.

This photograph shows the two sides of the horse at once. Note that the right hand side of the horse is carved in much greater detail, with a  flowing mane. This is because American carousels rotate ant-clockwise, and thus the right side of the horse is visible to the public. 

The side of the horse that is designed to be visible to passers-by is called the romance side. It is reversed on Mexican and some European carousels.