According to Melt Comics, this is a 9″ vinylmation designed by Kidada Jones for Disney store. Aside from Minnie Mouse peeking through a porthole and a portion of a porthole ‘below’ the feet, the vinylmation appears to represent something edible complete with sprinkles and heart shaped candies.
According to the site, this figure will be released exclusively at the Disney Store Times Square in New York City on May 4. Disney Store President Jim Fielding has added via twitter that the collection itself will be available online and at five Disney Store locations, one of which being Times Square. No additional information has been provided at this time.