Even if you don't want to give this a new wizard race, you have a Goblin (-2 Strength), and a halfling (-2 Strength) breeding. The hybrid of this should not have +0 Strength, that just doesn't make any sense.

-2 Str, +2 Dex, -2 Con, +2 Int, -2 Cha seems appropriate. It nets -2 to a score, but it penalizes the two ability scores that are most often dumped (Str and Cha) while boosting a score that is used by pretty much every class (Dex). So it works out nicely.

Why are these people cowards? Halfling gets a +2 morale bonus to saves against fear as part of their race, why would the offspring of goblins and halflings be cowards?

Goblins are often depicted as being skilled with dealing with animals. (Particularly worgs). Maybe the Handle Animal penalty fits, but the Ride penalty certainly doesn't.

The title of the thread misspells the race (Gofling instead of Golfling), which is just confusing.

I would replace Coward with an ability that really combines both the goblin and the halfling together.

Let's think about this for a second. Halflings are known to be skilled with thrown weapons. Goblins are known to attack while riding worgs. So how about the golfling gets Mounted Archery as a bonus feat, and ignores all penalties for ranged mounted combat with thrown weapons or slings?