It is dedicated to Nandi, the bull which serves as the mount (vāhana) of Shiva, in Hindu mythology.
As a common architecture trend, temples of Shiva (and Parvati) display stone images of a seated Nandi facing Shiva.
[1] Khajuraho is a small village in Chhatarpur District of Madhya Pradesh, India.
The temple stands on a rectangular modest (chabutara).
[2] The border design is made of carvings depicting elephant (front view with head, trunk and two legs).