Today the archeological site is Lock 3 Park, but in 1884 is was The American Marble & Toy Manufacturing Company, site of the world’s first mass-produced toys -- clay marbles and penny toys. “Marbles were made using a device [that] allowed one worker to make 800 to 1,000 clay marbles per hour... So significant was the economy of scale, that one penny could buy a handful of marbles or dozens of different penny toys. The Blue Santa was a penny toy..." Before Dyke opened his company, there were only hand-made toys, beautifully painted, clever in design and so expensive only the world’s wealthiest families could afford a toy... “From that point forward, all children could have a toy,” says Cohill.
The figurine is wearing a blue cloak.
Link.
The claim that the modern Santa began with a commercial artist in the 1930s is preposterous on the face of it. Surely the Coca-Cola Santa Claus must have been a stereotype of long standing; otherwise people would have been scratching their heads, wondering: "What in heck is this fat bearded man in red supposed to be?"
If it exists, it might have to be disposed of. A lot of those old synthetic PVC toys leak chemicals. I found this old ET doll, and the skin was cracked and oozing this stuff out of the PVC fragments still on. He looked pretty nasty when I found him.