This is a spinning ballerina figurine and likely made by UCAGCO (United
China and Glass Company) in Japan 1950s-60s. These are rather rare and
therefore somewhat expensive.
I don't think this is a Josef, but rather one of the many look-a-likes
made in Japan. BTW, I found another like yours that IDed as Josef, but
it isn't marked...see below. (You might contact one of the online Josef
groups/collectors to see if they kno...