It looks like this might be some kind of Walmart special run? Probably why they used the Morgan stallion, since it was already being used as Forthwind the unicorn, and this way they could divert some of the bodies, paint them a different color and then sell them at the low price Walmart would require. His item number indicates that he's a Walmart special run, in any case.
There were two of these on the shelf at our Walmart, so I bought them both and gave one to my niece (it was her birthday yesterday), and the other is currently listed on eBay. Here's what the back of his box looks like, for funsies:
I hope this guy is a good seller - maybe we'll get more special runs for Walmart!