Aww... It’s a cute baby dragon. It is made out of paper, and is so small and light, you can hold it on one finger.

The pieces have rearranged themselves to form little wings which it uses to glide around.

Russyl is Felshara's last remaining tie to her father, his egg most likely the last spell Jayden worked on before Felshara's loss of temper (and resulting explosion of magic) cast him from the world.  Felshara discovered the egg decades later and completed the half-finished activation spell, and the egg hatched, though the paper hatchling was so frail that she cast the growth-halting spell on it.  Russyl is utterly devoted to Felshara, and it is rare to see the magi without the little paper fluttering behind her.  Felshara is always worried that he'll get careless and be crushed, but Russyl has (so far) been able to take care of himself.  Russyl can't talk, but can rustle the paper he's made of in a very expressive fashion.