The Grammy Award is named after an outdated gadget — the gramophone. The Gramophone Award was the original name for the Grammy Award. Today, no one uses a gramophone anymore, and it is true to say that many people haven’t even seen a gramophone except when they are actually looking at the Grammy Award.

So, when viewing this trophy, it is admittedly a gold plated trophy, depicting a gilded gramophone. All of the trophies are made and assembled by hand by Billings Artworks in Ridgway, Colorado. In 1990, the original Grammy design was revamped, changing the traditional soft lead for a stronger alloy less prone to damage, making the trophy bigger and grander.

The actual trophies with the recipient's name engraved on them are not available until after the award announcements, so "stunt" trophies are reused each year for the live TV broadcast show.

More Info: en.wikipedia.org