Not too much special about this lantern, expect for the fact it’s covered so much in original japan. This was one of the colours E.T. Wright & Co. put on their lanterns, the other colours I know of were black and red. Not often you see lanterns with this much still on it, provides a great glimpse at how lanterns were presented to the public when made back a long time ago.
What is Japaning? You can read more about that here.