A movable model object which resembles a racehorse has a model supported on a base having wheels that run on a field of a horse racing game apparatus. The model includes front and rear legs as movable elements and a power transmitting mechanism for transmitting rotation of the wheels to the front and rear legs. The power transmitting mechanism includes an endless belt for transmitting the rotation of the wheels to a rotatable shaft rotatably supported on a fixed frame of the model to move the front and rear legs.