In your stable clicking show pet's stats, you see that happiness is represent by the icon as a footprint with the 2 sword inside it. And sometimes while walking around the map, I see that icon appear above on my head and my pet's head.

Does that mean only at that moment my pet is happy and I can enjoy the bonus for such short time? Or all the time my pet is happy as long as I feed it?
That icon is getting me really confused, because I am using a flap jack so I wanna know if mana and hp restore helps all the time or just that single moment.. thanks.