This is: Mr. Snugglegums.
He is a stuffed toy. He was known for his catchphrase "I should'a worn a belt!" and his pants falling down. The Mr. Snugglegums saturday morning cartoon show had a 3 show run, and was quickly moved to mondays at 3:30 a.m. Apparently, no one wanted to see a chartoon character pull up his pants on a regular basis for 22 minutes. The toys still sold well though.
