Three feet and a pierced lid is the classic Chinese incense burner layout: the feet keep the hot base off the table, and the lid slows combustion so the stick or cone burns longer and releases smoke in a ribbon rather than a column.
The glaze here is a celadon green with a band of incised pattern at the shoulder. It is ceramic, so it does not get as hot as a metal burner, but it still gets hot — use a trivet and never leave it burning unattended.