We will ask our resident expert, V de Q, for help on this.
This figure has stood on a pedestal at Cherokee and Jefferson for many years. I always thought it marked the beginning of the Cherokee Street shopping district. It may also have been a reference to the Anglo-American tradition of a cigar store Indian, signifying that the business behind it was a tobacconist. https://en.wikipedia.org/wiki/Cigar_store_Indian
Yet it has survived decades of social change. I never looked at it very closely until I took this picture. I am not knowledgeable in these matters, but the tablet the figure holds looks like an example of the Cherokee language, part of a very sophisticated culture. Perhaps someone knows more about it.