Pegasus Palace is a historic monumental palace which was built at the end of the 14th century by merging lots of small artisan workshops under the auspices of Agnolo di Ghezzo della Casa - a cloth merchant, ambassador and Captain of Pistoia and Pisa.
Previously the palace was divided into various spaces including stables, shops, a café, meeting rooms and flats. Today however the building is owned by the Tuscany Region and hosts the Regional Council.
If you look closely at the exterior design, you will see many demon-like figures which are located underneath the various windows as well as above the main front door. I personally can’t find any detail about why these demonic figures were chosen as part of the architecture so I will leave it to your imagination.