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The object is identified as an Archimede Seguso Murano glass bear figurine, specifically from the "Alabastro" series, likely produced in the 1950s or 1960s. This figurine is made of pink and white opalescent glass, a style resembling alabaster. Archimede Seguso was a renowned glassmaker from Murano, Italy, known for creating art glass pieces, including animals, using techniques such as glassblowing. The "Alabastro" series was particularly successful, featuring pastel-colored, opaque, and opalescent glass animals. These figurines are now considered vintage collectibles.