That's a very ugly grafted Abies koreana 'Silver Show'.
It's grafted to high.
You can plant it a bit deeper and more slooping, in the way that the grafting union is just below the surface and will grow with a right habit.
If this don't work, you can always stake it for the first couple of years.

Or you can send it right back to the seller...

Yes,probably grafted on Abies balsamea, it's a good rootstock very hardy in winter, very suitable for poting long time,but don't growth stronger,by this way the scion became stronger than the rootstock ! the best solution use this rootstock only for the very dwarf cultivars.
Clement

The graft it self looks fine. The wound will heal up. My biggest problem is that the understock was cut off too short. They Should of left at least 1/2" above the graft union. I seriously doubt you will have any problems.

It's better now to plant it with the grafting union below the surface so it can make roots of it's own.
This is better then your specimen will break at the weak grafting union at a later age...
At the moment all looks ok but later on the problem will arise when there will be a thickness difference like Clement said.

The vendor decieded to give me a refund.I had to destroy the plant and send him a picture of it. Joe

The vendor made you destroy the plant?! What a waste! Mind telling us where you got it from?

I am guessing Iconicgardens.com? That's where I got my 'Silver Show'. The one I received is a little like yours but seems fine. The Psuedodotsuga menziesii 'Graceful Grace' that I received from them had a very small understock that looks just like yours. I buried mine up to the graft and hoped for the best. It looks fine and healthy this year. I think they will be fine. The other trees I received from them were fantastic!

Ooh, I would hate to have to destroy a beautiful tree like that, but I understand=(

He didn't want to pay return shipping.Looks like i will have to get the siberlock from Whitney Gardens,2 to 3 footer for 45.00,not bad. Joe

I don't get why he makes you destroy the plant either.
Most operations will ask that you gift the plant (or try it out) as long as you show that the plant received had some type of issue.

Makes sense as most people wouldn't try to scam just to have 2 of the same plant.