Haha so cute :) I love the way you animate, you pay attention to the whole piece not just the walk cycle in this case. Love the bell, and extra kudos for taking the texture into consideration on the blanket.
Only things that seems a little off to me is the little lump that forms on the rear end of the cow. (I could be wrong haven't ever studied the walk cycle of a cow) & the tail as it would sway more side to side I think with a little back and forth motion. :) I think the though it's not the sway that bothers me it's the color that makes it "pop" and puts it almost in front of the cow, maybe just darkening it a little would help. (Once again not the expert on cows) ;)
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love ur style ^_^