I have no idea if this works as a demon, but this is me giving it a go. 8D If it doesn't work, I'll edit it. <3
It's a demon of misfortune; an upside-down horseshoe is often a symbol of bad luck because it implies the luck has fallen out.
This one certainly seems to have some bad luck, himself - something's gone and scratched its bottle! D8 Never mind that it's rust-colored. xD That can't be all that good for him, either~