This is a classic LEGO dragon that has been painted. The wings are not painted (and are also authentic LEGO).

It is common for older LEGO dragons to have wing clips which are too loose and no longer hold wings. When this happens, we help repurpose them by repainting them, as the slight thickness of paint as well as the texture allows the wings to hold their pose. We will say however that after repeated adjusting of the wings, it is possible for some of the paint to come off of either the clip or the wing, if the wing is painted. This generally does not make the wing come loose again, and does not happen too often, but you may see a little bit of original color (usually black) peeping through at the wing joint after repeated use.