@Sandblast  
Hmmm….  
Bootleg;pirates,piracy,boats,open ocean, water, squirt-toys….  
I think I see now. The hole on the bottom of that squishy Spike thing makes me feel like there’s a similar hole under our princess here, and you can fill her up with water. The cheapness of the design to just squirt it back out in the same spot seems fitting for bootleg products.
 
This is a duck-faced Celestia toy that pirates would use to squirt each other with. Too bad it wouldn’t float the right way in a tub.
 
That is another design to consider though - SWANLESTIA, the celestia duckie

@Goddess Erosia  
This could be bootlegs, the Eqg Rainbow Dash should have been in a box.

I seriously can’t tell if they just got even cheaper than ever before or if this is some kind of squeeker toy or a bath toy…

“Help me, my legs have been fused together! Surely I cannot rule like this!”

how can i get hold of these. I want them. Specifically this celestia

what is this, a doggie toy?