Timmy the Flying Pink Sea Horse is a magic seahorse that can fly, named after Timmy Turner. He was wished for by Tootie, who had the ability to make a wish because of the wish coupon.
Tootie wanted a pink flying seahorse, whom she called Timmy, in honor of Timmy Turner.
He looks like a seahorse, though is purple and larger than a normal seahorse, besides being able to breathe out of water. He has the magical ability to fly, since Tootie wished he had it. He has caught a red saddle on his back.
In the Christmas-themed special "Merry Wishmas", when no child in Dimmsdale received what they wanted for Christmas, Timmy wished that they all receive a wish coupon that would entitle them to one wish. Because of this, Tootie, disbelieving that would get what she wanted, wished for a flying pink seahorse named Timmy. The name of this animal is because of unrequited love she feels for Timmy Turner.
He has only been seen once, during the episode Merry Wishmas. Therefore, it is unclear if he remains Tootie's pet, if he escaped, or if he simply disappeared when the effects of Timmy's wish wore off.