We borrowed this as a board-book from the library but I am definitely going to have to buy our own copy, despite knowing all the words off by heart now. My 19-month old daughter loves the simple storyline, and joins in with the 'clip clop', the 'whoa, stop', the 'oh dear' and the 'again' bits. She repeatedly asks for me to read it again, and she's in no rush to turn the pages which makes a change.
Even as an adult, I love the drawings - the cat hanging on tightly to Mr Horse's mane, the animals' expressions as they 'fly through the air' - some in diving poses which just looks so comical. I'd highly recommend this book. If you're not sure, try it from the library first and see how popular it is with your child! (Tip - the board-book version is probably more durable than the usual paper pages, especially with all the anticipated usage).