Peebo is one of several very similar looking Furby knockoffs, including Habby, Gizbo and Wonder Pet.
The design was copied by many pirate companies. They have small arms, long floppy ears, and a row of dinosaur like spines running down their backs.
Peebo has longer ears, and his little arms are held tightly against his body. It also lacks alternately colored belly fur. They look like chickens.