The netsuke is a toggle. Japanese men used netsuke to suspend various pouches and containers from their sashes by a silk cord. Netsuke had to be small and not too heavy, yet bulky enough to do the job. They needed to be compact with no sharp protruding edges, yet also strong and hard-wearing. Above all, they had to have the means for attaching a cord. Netsuke were made in a variety of forms, the most widely appreciated being the katabori (shape carving), a three-dimensional carving, such as this one in the form of a herdboy sitting on a buffalo.

From the 18^th century onwards, many more makers signed their netsukes. This example is signed Masatsugu. Kaigyokusai Masatsugu (1813-1892) is an Osaka based carver renowned for his flawless technique as illustrated upon this netsuke with its finely carved ivory form, with no staining and bright inlaid eyes. During the Meiji period (1868-1912) netsuke began to loose their practical function as traditional Japanese dress was replaced by Western clothing. Artists such as Masatsugu continued to produce netsuke, keeping the traditional craftsmanship alive.

Netsuke have a hole or himotoshi through which the cord would have been strung. On this netsuke the cord would have passed between the buffalo's hind legs causing the netsuke to hang upside down. It is therefore likely that this netsuke was produced purely to be admired rather than to be worn.