The image in this post appeared in a 1934 issue of News-Week magazine. The article was titled, "ART: Mickey Mouse's Friends Find Him in Portland Museum." The article gave details on a Disney traveling art exhibit that was in Portland for two weeks.
The article stated in part,
"The Disney traveling exhibit...is one of the two Disney shows sponsored by the 22 year old College Art Association of New York, which organizes traveling art exhibitions. College art borrows [the art] and sends them to museums throughout the country, charging only for transportation. Each Disney exhibit is insured for $5,000 and consists of 50 black and white Mickey cartoons and 50 water colors. Every four months [Disney] supplies 40 new items from his current movie releases."
The Mickey Mouse doll Walt Disney is holding looks like one of the 44 inch tall promotional marketing dolls created for the Disney brothers by seamstress Charlotte Clark.
A pair of these gigantic promotional dolls (shown in the image above), sold recently at a Hake's Americana auction for just over $150,000. Yes, that's right, one hundred and fifty thousand dollars. Mickey is 44 inches tall, while Minnie stands 48 inches tall to the top of the flower on her hat. Both sported 32 inch long tails.