We present CCD images and long-slit spectra of the nebulous object GGD 33 and of the T Tauri star V 350 Cep in the star formation region NGC 7129. The data suggest that GGD 33a is a T Tauri star and likely the illuminating source of the whole GGD 33. Evidence of variability of GGD 33a is presented. Double-peaked [S II] emission lines are observed in GGD 33a. The high-velocity component of the [S II] emission could be related to a HH jet-like outflow observed very close to the star. V 350 Cep is embedded in a reflection nebulosity. High velocity mass outflow, detected through its blueshifted Halpha emission, seems to emanate from V 350 Cep. The spectrum of V 350 Cep presents a large number of permitted emission lines, but, except [S II], no forbidden emission lines have been identified in our spectra
