This is an unusual item directly out of a wealthy local estate.  It is a wooden weathervane, which I can only assume was made as a decorative object.  In my opinion it is early 20th century, with all the typical signs of wear and age.  Considering the wood would not survive long outdoors, I can't imagine it was ever used as a real weathervane, mainly because it does not turn.

I believe this is French due to the "O" in place of "W."  French directions: S (Sud) south N (Nord) north O (Oest) west E (Est) east.

The rooster is a solid wood block with polychrome decoration.  He faces the east and stands on one leg.  

The base is hand turned and is lined with old felt that shows pest eaten spots (strong indication of age). 

Provenance:  This piece is coming from the estate of a person who was married to one of the wealthiest people in the US in the 1980s (later divored).  During this time, Folk art was very popular, so it is possible that this piece was purchased at auction or from a gallery around that time.  Otherwise I do not know any other history about the piece. 

Note:  This piece does break down partially in order to be shipped.  Each of the letters comes off from their nail spikes.  The rooster can also be pulled off the peg support.  It takes a bit of strength to get him placed back on the peg just right, but this is the only way that the piece can be safely shipped.

Measurements:
20 1/2" H x 16" W x 16" D