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You know, at first I kind of assumed this thing was just a completely out-of-scale version of the Baby Rex from Lost World, kind of like how we have that inexplicable BD Trike that's the wrong size.
But then when browsing youtube videos a while back I was reminded of that scene from the first JP novel when whats his name, that PR director guy got killed by a juvenile Rex that was only like eight feet tall but still weirdly adorable.
While I seriously doubt this toy was actually inspired by such an obscure pull, I basically like the toy a lot more if I remember that scene.