This must be the 1:1.75 scale GTO by Carrozzeria Allegretti of Modena, powered by a 562 cc Fiat Topolino engine producing a heady 21 bhp.
Here are a few words about Allegretti's scale replicas plus another photo:
QUOTE
If building these little reminders of past motoring glories seems an odd occupation, be advised that it is something of a sideline for Stefano Allegretti and his artisans. Their bread-and-butter work comes, as it has for many years, from restoring “real” Ferraris, Maseratis, and other Italian exotica. Mario Allegretti, Stefano’s father, founded the firm after working in the carrozzeria trade in the Modena-Maranello area. Mario’s hands helped shape some of the cars his son now re-creates, and in fact he oversaw construction of the first scaled-down replicas.
In terms of numbers made, the Allegrettis are less common than the originals. Since 1985, perhaps 20 have been built, including 250F and “Birdcage” Maseratis, and Ferraris ranging from an early Tipo 500 Formula Two car to a more recent P4 racer. Customers have also commissioned replicas of the Ferrari 275 GTS “NART Spyder” and 250 GTO. There is, however, no reason for future clients to limit themselves to these choices. Stefano Allegretti will be happy to build a replica of just about anything on four wheels. If it’s Italian, he’s probably had at least one full-size example in his shop at one time or another.
UNQUOTE