This is a record/play stuffed animal (hound dog of some sort).
One paw says record, the other says play.

Once you perform surgery on the helpless young pup, and turn his arms inside out to expose the push button switches within the underside of its fluffy paws. You will uncover some nice long wires that lead down to the record, and play sections of the circuit. I replaced these buttons with panel mount momentary N.O. push buttons. I also replaced all the wires with fresh 26 gauge stranded hook up wire. I added a pitch knob, on/off switch for said pitch knob, 1/4 inch input, and output. Mic/input selector switch, main output volume knob and a main on/off toggle switch. All of this is mounted in a clear project box, so you can see all the wires and connections. The circuit board is suspended within by all the wires that are connected to it, similar to a spider sitting on his web.

The pitch range on this is outstanding. Beyond chipmunk into the realm of screaming insects from another planet. Down to earth quaking LOFI and gritty slow pulsing bass sounds. Most sounds are fed through the small flush mount on-board microphone. However, there is a 1/4 inch input jack with an input/mic selector switch for running any electronic audio signal into the lofi sampler.

From what it seems, you can slow it down, and then record long, and very lofi audio samples, and then play them back while scrubbing the speed up and down with the pitch knob. Further bends on this circuit should reveal a glitch or chance trigger/threshold dial circuit.