This was issued in 1946 as a subscription incentive and show in the sub folder for that year (comes w/a photocopy of this). 7x10-5/8" envelope with printed return address of K. K. Publications, Poughkeepsie, N. Y. has address label in center with nice art of Donald Duck wearing Santa Claus hat carrying gifts with printed text at right “Do Not Open Until Christmas”. Some handling creases with tiny tear at lower left corner tip. Fine. Cardboard figures range in size from 6.25 to 9-7/8" tall and include Mickey Mouse, Donald Duck, Goofy, Pluto, and Pinocchio. Each has unpunched hole at top as designed for hanging. All are bright and essentially Mint. Great for display. Rare. First we have offered in our 45 years.