This is festive German Style Soft Blue Belsnickle Santa. He has a string so he can also be displayed on a tree.. He is holding a real goose feather.
You might be wondering, "What in the world is a Belsnickle?" According to Wikipedia: Belsnickle is "... a crotchety, fur-clad Christmas gift-bringer figure in the folklore of the Palatinate region of southwestern Germany along the Rhine, the Saarland, and the Odenwald area of Baden-Wurttemberg. The figure is also preserved in Pennsylvania Dutch communities.”