The inscription can be translated as:
'Precious plaything of the Jun Pavilion'

Li Junting, in all probability the carver of the present bottle, is discussed by Clare Chu in www.thecranecollection.com, no. 650, also an overlay glass bottle of the unusual color combination of opaque turquoise over black. Li Junting is one of a very small group of glass carvers whose name appears on these bottles, in various forms. One of his known art names was Weishi. Gerard Tsang, in his 1978 lecture to the ICSBS in Hong Kong, suggested that this art name may be a shortened form of Wei yang Renshi - meaning a native of Wei yang, the latter being another name for Yangzhou. However a bottle in the collection of Mary and George Bloch is signed 'Mr Li of Jingjiang' with the seal 'Junting'  and a cyclical date (corresponding to 1819). The inscription also tells us that is was for the 'treasured collection' of Mr. Li himself. Jingjiang is the old name for Zhenjiang, eight miles from Yangzhou across the river. Although this would indicate a connection with Yangzhou, with Li both as the maker and in this case the collector of such items, the difference of being in the wealthy city of Yangzhou or on the other side of the river was significant to the class conscious Chinese, especially during the 18th and 19th centuries. A bottle of the same coloring as the present example signed Li shi Junting zuo ('made by Junting of the Li family')  is illustrated ibid, Volume 5, Part 3, pp. 725-6, no. 1023; and another is illustrated by Lilla S. Perry, Chinese Snuff Bottles: The Adventures and Studies of a Collector, Japan, 1960, p. 50, no. 19.