γ Equulei is an α2 CVn variable star, ranging between magnitudes 4.58 and 4.77[3] over a period of around 12½ minutes.

Due to its small size and its distance from the plane of the Milky Way, Equuleus is rather devoid of deep sky objects.

NGC 7045 is a triple star that was mistaken as a nebula by its discoverer, John Herschel.

[9] In Greek mythology, one myth associates Equuleus with the foal Celeris (meaning "swiftness" or "speed"), who was the offspring or brother of the winged horse Pegasus.

Other myths say that Equuleus is the horse struck from Poseidon's trident, during the contest between him and Athena when deciding which would be the superior.

Because this section of stars rises before Pegasus, it is often called Equus Primus, or the First Horse.

[2] [11] In Chinese astronomy, the stars that correspond to Equuleus are located within the Black Tortoise of the North (北方玄武, Běi Fāng Xuán Wǔ).