This is an example of the type of toys that are made for altars (ofrendas) to remember people and their unique traits during Dia de los Muertos or Day of the Dead.
These toys are added to altars to remember the person who has passed on. For example, this would be a good choice for an uncle or brother who enjoyed playing the drums.
After the commemoration is over and the altar is dismantled, then the kids get to play with these toys until they fall apart. Life is temporal, and so are these figures.
These are whimsical and are full of life and are helpful to recall the spirit of a loved one.