This is the list of major characters in the original 20-episode run, with short descriptions.
Cowboy is a toy figurine of a cowboy in a blue shirt and brown leather trousers, with a hat and, most of the time, a rifle. Cowboy is rather cowardly and not really bright, often getting himself into bad situations through his recklessness and childish behaviour. He has something of a sibling rivalry with Indian (though they most likely aren't really related), and is intimidated by Horse.
Indian is a toy figurine of a stereotypical Native American tribal chief or elder, in a yellow shirt and brown leather trousers, with an elaborate and large feather headdress. He carries a ceremonial staff. Besides the usual standing position he is often seen in a Native American-style meditative pose. Other times he carries a bow and arrow. Indian is a little more "grown up" than Cowboy, but still pursues foolhardy quests almost as much as his counterpart. He is also somewhat fearful of Horse.
Horse is a toy figurine of a brown horse. Although an animal, Horse is easily as intelligent as Cowboy and Indian (put together) and is the leader of the "family" he, Cowboy and Indian are part of. Even though he walks on all fours, he does most of the chores around their house, as both his charges are domestically useless. He maintains a cool head, doesn't engage in the foolish pursuits of Cowboy and Indian and keeps a semblance of normality in the house. When Cowboy and/or Indian infuriate him, he kicks them (presumably with his hind legs) all over the house and usually into one of the walls, which is sufficient to keep the two in line most of the time.