The poem is a tiny scene built around a small object: a chocolate horse that someone, judging by the title, a four-year-old, has carried all the way home. We never see the child directly. We only see the horse and hear the speaker's quiet comment at the end: "odd to eat it now."
That last line is where the feeling sits. The horse has been held, protected and probably admired the whole way, so it has stopped being just a sweet. It has become a kind of companion or treasure. Eating it now feels strange, almost like a small betrayal. The speaker seems to notice this with gentle amusement and a bit of tenderness, rather than sadness or complaint.
The mood is soft, observant and a little wistful. The poem catches how a child's attachment can turn something ordinary into something precious, and how even a simple treat can carry a tiny moment of loss.