It is a manuscript illustration of a poem by Gaspare Tribraco, "Divi ducis Borsii Estensis triumphus".
"The humanist Gaspar de Tribraco 'Trimbocchi was born in Reggio Emilia in 1439, was a master of grammar at Modena and then the Este court where in 1458 he learned from Guarino Veronese and as a writer in 1466 read "poetry"; He was a friend of Boiardo and Strozzi; perhaps he died in Mantua in 1493 and left in addition to this Triumph of Borso, several poems and Satire. Tribraco wrote the text in 1463, when Borso was about the crusade that ended with altarpiece with the death of Pius II. A Borso course Tribraco dedicated the poem in hexameters, whose theme is the triumph of the Duke and the exaltation of his virtues including especially liberality. The decoration, in the past generally refers to an illuminator near George of Alemagna, was recently assigned to the hand of Bartholomew of Dyer, an artist working in Bologna, but also to Ferrara. The decoration consists of a frieze whose characters refer to the miniature flourished under Borso, while the cartoon takes the iconography of the triumphs which spread mainly through the illustration of illuminated manuscripts of Francesco Petrarca: in particular the model for the Triumph of Borso of c.1r has its prototype in "Triumphs" ms. 141 Library Casanatense Rome made for the family Zambeccari Bologna by the same miniaturist. The theme here is Petrarch interpreted in a sign courteous and everything for the exaltation of the Duke of Ferrara."
There is a colour version on pinterest, but it is small:
https://jp.pinterest.com/pin/4424083633 ... =175&h=237