Tartan Doll?

I picked up this little cutie at of all places a die-cast car show. It stands 12 inches tall from head to foot or 14 inches if you include the pom-pon. There is no markings anywhere on this doll. Nothing on the back of the head or on the bottom of the feet. The legs are felt covered vinyl and the rest of the body is vinyl. Notice the position of the hands. Was it holding something? What was it? Was the doll an advertising piece? If so, what did it advertise?
Does anyone know anything about this item? Have you ever seen one before? Do you own one? Do you know where I can find out some history on it? I've owned it for about a year but my searches have all turned up empty. It has some very light surface dirt but otherwise in great condition. I am afraid to try and wash the dirt off because I don't want to mar the finish.