Sit on it. Prop your feet up on it. Store something inside of it. It's the Storage Kate ottoman from Todd Oldham's line of La-Z-Boy furniture. And it's a horse of many colors.
Literally: it's available in 30 fabrics. The ottoman is 20-inches in height: perfect for many uses. We've been looking for something like this to use as a soft side table that can be pulled up for extra seating if necessary. This one sells for about $300.