A figurine called a Penny Doll. This figurine is made of an unglazed, bisque porcelain. Stands 3.5 in. tall. I have heard these little dolls called Penney Dolls, as they were inexpensive figurines from dime stores and carnivals. Vintage should be about the '30's-'50's. In good, displayable condition. Cute features.
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