Welcome to the best Treasure related Forum on the Internet! I know that this deke appears to be made out of one solid block of wood (maybe pine) and had some knots or whatever on the head section, before being masterfully worked by someone with a passel of carving talent! 8)
I can't make out the numbers or letters on the bottom but it's VERY Cool that they are there and can probably be traced back to the creator of this fine duck with a little effort...