Vintage Clown Puppet Toy

This odd little clown has orange flossy hair and acrylic safety eyes around which a felt-like head is moulded and hand painted. It is like a puppet in that it has space for a hand, yet because of the way the head is shaped, the base of the head has a 2 inch protrusion inside making it difficult to hold and balance and manipulate the head. Maybe it was just intended to decorate a bottle or was meant to be completed into a doll? Measurements: 15 inches X 13 inches