Is There A New KAWS Designer Toy Coming?!?

The Brooklyn-based artist Brian Donnelly, better known as KAWS, recently posted the above picture to his Instagram account. The sculpture in it appears to be a miniature version of his “Pinnochio Companion v2” piece from 2013 (seen HERE), which had the lederhosen attired character sitting in a remorseful stance while gazing at his fallen off nose. As the above picture is certainly not the giant wood sculpture we'd seen in Switzerland, the question is "what is it?" The sculpture appears small, maybe a foot high at most, and in a single color gray… a very common form for a prototype master used in making a designer toy. Could KAWS be getting back into the toy game?