This tapestry depicts the mythological story of Perseus and Andromeda. Andromeda, seen here chained to a rock in the background as a sacrifice to a sea monster, was rescued by Perseus, on his winged horse Pegasus. The tapestry is the only known survivor of a set of six pieces woven at the Mortlake tapestry manufactory in London between 1635 and 1642. The series illustrated scenes from the Metamorphoses by the Roman poet Ovid, but was referred to as 'The Horses' in the 17th century, as each tapestry featured a figure on horseback.

King Charles I owned a set of 'The Horses', recorded among his possessions at Whitehall Palace after his execution. Although it has no provenance before the early 20th century, the quality of this tapestry, with its quantity of gilt thread, suggests it was a royal commission, and may have come from that set. It is complete apart from its missing border.