It’s a vintage pouf!
I have a special place in my heart for this object, which my mom brought me, because I make knitted poufs for one of my Etsy shops.
Mine look like this:
I thought these were kind of a modern Scandinavian creation, but it turns out they have totally been en vogue before. This one is clearly from the era of scratchy acrylic yarns, which thankfully has passed. It must have taken a great deal of work because it’s crocheted with several strands of thin yarn held together (mine are made with extra bulky strands that knit up quickly). And the colors – wow.
But overall it’s totally the same concept as what I sell now. A squishy, round pillow that’s a little silly looking but so much fun.