All of GW's mounted versions of Gandalf the Gray are very static. In addition to that, they are all on a standard horse with saddle. I like the option of having Gandalf the Gray (more cost-effective than Gandalf the White in most cases) on Shadofax for a period between his escape from Orthanc and his fall in Moria.
The base model is Gandalf on Shadowfax. I sculpted over the straight staff to give it a texture of warped wood and replaced the tip with the tip "donated" by the plastic Mines of Moria set Gandalf model (rip). From that same model I also took the hat since I failed several attempts to sculpt one myself. Finally I added a pouch at his side as he's always shown with it in the films prior to his return as Gandalf the White.