To me, the thing in the hand looks like a winged object or winged being. Something around the lines of a scout or companion.

Thank you for the kind words, the idea here is about someone who's going in unknown journy and the thing in the character's hand could be anything you like :)

I like the stoic feel of this piece. The cloak is well done imo, it really looks like it's moving in the wind. I'm really curious as to what is in the character's hand. Nice job :)