If you've never seen a cheetah before you might mistake it for a species of leopard. Unusually gracile and lean, with a curiously short head and long legs, but ultimately just another medium-sized cat; not nearly as scary as a tiger or lion, and certainly not dire. No danger at all, to a horse that started galloping away three turns ago.
Until what you thought an ambush predator, lazing about in clear sight and definitely not about to ambush anyone, stands up and stretches its long legs and gives you an innocent look, and suddenly it is next to you before you can flinch away.
It's not magical or supernatural; that would be cheating, and beneath it. It is merely extraordinary, the embodiment of raw speed in graceful gleaming fur; a Medium-sized animal that, once an hour, can outrun Shadowfax for a brief glorious moment, and would give Nahar himself a spirited try.
Cheetahs don't normally hunt horses; their hooves are too dangerous, their bodies too massive. A cheetah that is running for its dinner will look for easier prey.
A summoned cheetah, happy to sacrifice its own existence for a chance to tear or break the leg of a galloping horse? That's a different matter.