Hallmark Cards, Inc. introduced their Keepsake Ornaments in 1973.  Each year the Hallmark Ornament line has expanded to over 200 ornaments.  The Carousel series started in 1978.   The Carousel Ride (this piece) was offered in both 2004 and 2005.
 
This carousel is still in the box.  The music still plays (as in the video attached).  The carousel was never built to turn - only to play music.   Each of the animals also includes their own box.