This motif is generally thought to be a markhor. This particular example is a chimaera which incorporates a human face, and a bull's body.

The key thing that you should notice about this motif is the lack of conformity in the markhor's horns. The horns have been deliberately splayed so that they resemble the Indus sign for water. They are an ideograph for a coracle, which is a small boat that sits on the water.

Moreover, the markhor is a large goat, and it is possible that markhor hide was used in the construction of coracles.