This is a Cherished Teddies teddy bear figurine wearing a pink and white bonnet and sitting with a quilted heart, entitled "Be Mine" (#914762 ), by Enesco copyright 1993 Priscilla Hillman. The bear's name is Phoebe and was originally adopted on 1/22/96.
It measures about 2.75" tall, 2.75" wide, and 2" deep.
The figurine is in very good pre-owned condition, wrapped and stored in its own box with the registration card.