This ‘Mickey Mouse’ doll – by George Borgfeldt (USA) in 1931, is the first in a series of Three dolls produced by Borgfeldt/Nifty Toys. Mickey stands approximately 16″ tall, features Yellow Felt Hands, Bent Arms, Red Cloth Pants and a Woven-Felt Body – complete with Mother of Pearl Buttons and a printed Facial “Curtain” with ‘Pie-Cut‘ Eyes. This particular fellow has an attributed Red Sewn mouth/smile – which would have been Minnie Mouse’s designated colour. However, both Mickey & Minnie can be found out there in the Wide World with both ‘Red’ AND ‘Black’ Sewn Smiles.
BIRTHDAY PARTY. (Above) Celebrating in New York the origination of Mr. Mickey Mouse, the United Artists star. Of those there, shown here are: Joe Penner, Mrs. Penner, Olga Baclanova, Mickey himself, Bela Lugosi and Paul Gerritz. Papa Walt Disney was absent. 
After rejection by Disney and refusal for Charlotte Clark’s consultation (as recommended by Disney), this first design only lasted a short while due to the lack of quality that Disney desired. Wherein, Borgfeldt created a second doll design in 1932, which resulted in more/continued dissatisfaction by Disney (followed by a third and final doll design in 1933).
Here is a what seems to be a perfect example of the first ‘Borgfeldt Mickey’.