Carrousels have been a ubiquitous theme park attraction for over 100 years, and Tokyo Disneyland's is impeccably done. Every horse (there are 90 in all) is unique and beautifully crafted.
My only disappointment with this carrousel is that they use "canned" (pre-recorded) band organ music, rather than having a real band organ. I realize I'm nitpicking, but small touches like that are part of what puts some of the magic in Disneyland for me, and I miss it here. Band organs can be a maintenance headache, which makes it understandable why you don't see them very often, even at Tokyo Disneyland.