Not as mulch. Mulch is meant to prevent weeds and other growth from growing and infesting bushes and other desirable growth. The horse manure, even with straw, will not retard this growth, but will instead, promote it. It's great for adding to a
compost pile. You can push other mulching aside, and cut the compost or horse manure in, then recover it with the mulch. This will make your plants very happy.
Careful that the horse manure is not too hot and fresh. If it's mixed with a lot of straw, chances are, this won't be a problem.