I can't say for sure, but it seems pretty well made. However, it's really tough to say from a single picture. The blade is most likely that rainbow color due to how the blades are tempered and treated.
Traditionally, the are forged with a dead soft spine and body. The edge is usually differentially hardened by using a teapot to pour water along it so that the tip and recurve remain a bit softer and primary chopping area is a bit harder. This can result in a more shimmery look depending on the technique and the steel used.
The inlays are probably brass and the accent of snakes most likely has to do with the divinity and reverence of snakes in the Hindu religion. They are commonly found on ornate khukuris of India and Nepal (where a great deal of religious leanings are a combination of Buddhism and Hinduism).
Is there any sort of keeper or buttcap on the end of the handle? Traditionally, khukuri tangs are burned into the handle for fit and then glued in with a natural epoxy called laha. Modern khukuris are often times constructed with through tangs that are not only glued in but peened at the bottom.
In short, I'm not sure how old this one is or who made it. If it is not a tourist piece, then I would image that it was crafted to be ornate as either a presentation piece or for formal wear. The problem with beautiful khuks is that they are sometimes all show and no go just to be shiny for tourists to pay a premium for with no attention to function being made. Most of the ones used by locals are quite crude as they are every day tools. Even the mighty Gurka fighters would often times keep issued khuks for formal dress/parade and take their own family khuks into actual battle to do the dirty work of war.
I am by no means anywhere close to knowledgeable on antique khukuris as my collection is almost extensively made of modern made ones over the last 20 years. An expert may be a long shortly to answer this with way more accuracy and detailed information.