Looks like a toy to me.
This Althouse post on America's favorite toys struck home.
I do recall the original Mr. Potato Head and she is correct: you supplied your own potato.
We were a simple people.
I can recall that the feet were especially tricky and much depended on the potato's shape. Mr. Potato Head's appeal for the average kid probably lasted around 15 minutes.
Another toy that had far more appeal was the rubber band pistol. You could "load" several rubber bands on that sucker and shoot your brothers and sisters. Hilarity ensued.
I imagine the lawyers did that one in.