

On the inside of his coat he bears a round mark for 925 grade silver. Hopefully visible are the small marks across the top: a star, the number 14, and "FO", which I believe is the regional mark for Forlì-Cesena.

On the side of his left leg he is signed, somewhat indistinctly:

At first, with the naked eye, I read this as "Sorini", which seemed to fit well, as the firm of Pietro Sorini and Ilario Casi definitely made clown figures in silver from around 1970 to 1985. They were based in Arezzo, which is on the border of Forlì-Cesena, so they could have had their wares assayed there. However, they were not registered as #14 in that region.
On closer examination, the signature appears to have two initials and the last name could be Norini, not Sorini.
If anyone could identify which silversmith was registered as #14 in the Forlì-Cesena region, it might help.