Made in Occupied Japan.
Figurine of two little elves, dresses in orange/red jumpsuits, green hats.
They are shaking hands in greeting or goodbye-or possibly in agreement having sealed a plan!
One is wearing his green pointy hat, the other is holding his in his hand. They are both wearing green turned up toe shoes.
This item measures 5-1/2” high x 4-1/4 in length x 2-1/4”in width.