Le fond jaune du logo représente les couleurs de la ville de Modène. Le fameux cheval cabré est la représentation d'un trophée rapporté par un ami d'Enzo FERRARI, pilote de chasse, qui avait abattu un avion allemand portant les armes de la ville de Stuttgart, un cheval cabré. Enzo Ferrari, le fondateur de la marque de fabrique mythique a choisit le logo du cheval cabré pour ses véhicules en rendant hommage à un redoutable aviateur de la première guerre mondiale, le Major italien Francesco Barraca (1888-1918) qui décorait son avion avec un étalon noir cabré, notant que Ferrari avait une très grande admiration pour ce dernier. La première course où il apparut sur les voitures de l'écurie Ferrari fut Les 24 heures de Spa en 1932, que Ferrari gagna.

Le premier blason Ferrari est celui de l'écurie de course. Ce blason est jaune avec un cheval cabré, où apparaît aussi S - F (pour Scuderia Ferrari) surmonté des couleurs du drapeau italien (vert/blanc/rouge). Il se retrouve d'abord sur les voitures de courses Alfa Romeo alignées par Ferrari entre 1929 et 1938, puis sur les Ferrari de course à partir de 1947. En 1947, Enzo Ferrari devenu constructeur reprend également le « cavalino rampante » comme emblème officiel de la marque. Le cheval noir est alors inséré dans un rectangle jaune vertical toujours surmonté des couleurs italiennes et portant le nom Ferrari dans sa partie inférieure. La première voiture à porter ce logo sera la 125S de 1947.

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The famous symbol of the Ferrari race team is the Cavallino Rampante ("prancing horse") black prancing stallion on a yellow shield, usually with the letters S F (for Scuderia Ferrari), with three stripes of green, white and red (the Italian national colors) at the top. The road cars have a rectangular badge on the hood (see picture above), and, optionally, the shield-shaped race logo on the sides of both front wings, close to the door. On 17 June 1923, Enzo Ferrari won a race at the Savio track in Ravenna where he met the Countess Paolina, mother of Count Francesco Baracca, an ace of the Italian air force and national hero of World War I, who used to paint a horse on the side of his planes. The Countess asked Enzo to use this horse on his cars, suggesting that it would bring him good luck. The original "prancing horse" on Baracca's airplane was painted in red on a white cloud-like shape, but Ferrari chose to have the horse in black (as it had been painted as a sign of grief on Baracca's squadron planes after the pilot was killed in action) and he added a canary yellow background as this is the color of the city of Modena, his birthplace. The Ferrari horse was, from the very beginning, markedly different from the Baracca horse in most details, the most noticeable being the tail that in the original Baracca version was pointing downward. Ferrari has used the cavallino rampante on official company stationery since 1929. Since the Spa 24 Hours of 9 July 1932, the cavallino rampante has been used on Alfa Romeos raced by Scuderia Ferrari. The motif of a prancing horse is old, it can be found on ancient coins. A similar black horse on a yellow shield is the Coat of Arms of the German city of Stuttgart, home of Mercedes-Benz and the design bureau of Porsche, both being main competitors of Alfa and Ferrari in the 1930s. The city's name derives from Stutengarten, an ancient form of the German word Gestüt, which translates into English as stud farm and into Italian as scuderia. Porsche also includes the Stuttgart sign in its corporate logo, centred in the emblem of the state of Württemberg. Stuttgart's Rössle has both rear legs firmly planted on the soil, like Baracca's horse, but unlike Ferrari's cavallino. Fabio Taglioni used the cavallino rampante on his Ducati motorbikes, as Taglioni was born at Lugo di Romagna like Baracca, and his father too was a military pilot during WWI (although not part of Baracca's squadron, as is sometimes mistakenly reported). As Ferrari's fame grew, Ducati abandoned the horse- perhaps the result of a private agreement between the two companies. The cavallino rampante is the visual symbol of Ferrari. Cavallino Magazine uses the name, but not the logo. However, other companies use similar logos: Avanti, an Austrian company operating over 100 filling stations, uses a prancing horse logo which is nearly identical to Ferrari's, as does Iron Horse Bicycles.