The Frolicking Horse Family Gift Set #7211, included the models from set #7040 plus a mare. Unknown what year(s) this was released. Was available at Big Lots, and maybe other similar stores. Ongoing research to find out what color/pattern this model has.
It appears this model might also be in the #7213 Frolicking Horse Family Set, along with a stallion (from set #7037) and foal.
Please contact me if you have photos you can share.