This character of Shadow play presents a typical image of the Zhuang Yuan (Superior Scholar) in ancient China.  He wears a fancy robe with lot of decoration and a hat with two wings, which is a design specificly for Zhuang Yuan.

Zhuang Yuan is the title for the highest degree to ancient Chinese students.  The ancient examination system in China was called imperial examination, which students would take many examinations ranged from local area to the center government.  The highest degree only could be earned after the final examination conducted by the emperor.  After winning this title, the emperor would appoint the Zhuang Yuan. 

Nicely framed, just attach string and hang it on your wall.