Turner prize-winning artist Mark Wallinger has unveiled his latest work, a life-sized marble and resin racehorse sculpture, at The Mall in London.
The White Horse is a scaled-down version of a proposed 50m-high (164ft) sculpture he plans to build in Kent.
The full-size horse, which will cost up to £15m to complete, would stand more than twice the height of Antony Gormley's Angel of the North statue.
Wallinger told the BBC: "We're still in the process of fundraising".
In 2008, Wallinger won The Ebbsfleet Landmark project with his plans to build the horse, which would be the UK's biggest public work of art.
The plans have been on ice since the UK went into recession. The artist says he hopes his new sculpture will help "prod" funding for the bigger version: "It was always going to be wholly privately funded and then the economic crash came just after the announcement of the winner."
"There's only so much that the imagination can do," he added. "So people seeing something that solid and real, then that, I think, is a very large prod towards what the larger thing could look like or could signify."
The artist won the 2007 Turner prize for State Britain, a recreation of protester Brian Haw's anti-war display in Parliament Square, London.
Wallinger's life-sized horse was made by scanning a horse named Rivera Red - partly owned by Wallinger - in a white light scanner. The scan was moulded into a robust resin, marble and steel structure.
Wallinger's thoroughbred, commissioned by the British Council Collection, will face down The Mall for two years.
Planning permission for the new project ends in April and it will have to go back before the Gravesham Borough Council for approval.