Avalokiteshvara (Avalokitesvarah), or Chenrezig in Tibetan, has 108 forms, and the statue offered here is the '1000-armed' Avalokiteshvara. He has eleven heads to look in all directions, and a thousand arms with an eye on each palm to see everywhere.
Avalokiteshvara is the great bodhisattva of compassion, having taken a vow to save all sentient beings before himself going to Nirvana. He acts with wisdom and skillful means, the definition of compassion, to alleviate suffering. His main two hands are together holding a wish-fulfilling jewel; other hands hold a rosary, lotus, wheel and bow. The most popular mantra in Tibet is the mantra of Avalokiteshvara, Om Mani Padme Hum.
The Dalai Lama and the Gyalwa Karmapa are said to be incarnations of Avalokitesvarah.