I have found 2 of these at estate sales in the past year. He looks vaguely familiar but I can't place him. It's on a 1970's style keychain. I guess he's an advertising figure but for what? Kinda looks like a chili pepper.
Thanks Matt! I don't know why I thought they looked familiar. It's interesting if nothing else. Now that you've found it, I can add a little to it.
As you said it's a good luck charm, an Italian one. He's a hunchback with a horn body, holding a horseshoe and displaying "le corna" (the horns) with a closed fist holding his index and pinkie finger extended. All of these are symbols of good luck in Italy.
The hunchback- "il gobo" supposedly rubbing his back will bring you luck.
The Horseshoe- all around good luck symbol.
The horn "il corno" an ox horn reproduced in red. Good luck sign in Neopolitan Italy.
The horn sign "le corno", protects you from getting the "evil eye" cast upon you.
Here they are on a card-