Teddy Ruxpin is an animatronic talking bear which was created by Ken Forsse with later assistance by Larry Larsen and John Davies. He was first produced in 1985 by toy manufacturer Worlds of Wonder. Teddy would move his mouth and eyes as he read stories via a standard audio tape deck built into his back. There was also a companion toy named Grubby which connected to Teddy via a cable; this allowed the two some (minimal) interaction. As well, there were several other non-animatronic companion toys and characters such as the bird-like Fobs, a hand puppet with a sock-like, extendable neck, the larger Wooly Whatsit hand puppet, a Tweeg puppet, and an L.B. Bounder puppet.
With the strength of its line of toys Worlds Of Wonder’s fortunes rose well beyond its assets. This culminated in a rather spectacular tumble as stock trades by company officers spooked investors. Attempting to stem the tide, WOW issued Non-Investment Grade Bonds, commonly known as junk bonds, in an effort to buoy itself. Although there is some contention as to whether this strategy would have helped, the attempt was made moot by the 1987 stock market crash. Worlds Of Wonder eventually filed for bankruptcy in 1988 and went through a series of layoffs. By 1991 the company folded and the remaining assets were liquidated.