Peebo is one of several very similar looking Furby knock-offs, including Habby, Gizbo, and Wonder Pet.

They have small arms, long floppy ears, a beak which is slightly longer than a Furby's, and a row of dinosaur like spines running down their backs. They are sold in red boxes unlike Gizbo and Habby. 

Peebo has longer ears, and its little arms are held tightly against his body. Only three fur variations are known to exist for Peebo's, including an all-yellow Peebo with blue spikes down its back, an Peebo with a white body, pink tummy, and pink spikes running down its back, and a black and white variation with yellow spikes that run down its back.