Labubu was created by Kasing Lung, a Hong Kong-based artist now living in Belgium, and was inspired by ancient European fairy tales, particularly elf legends, when he was a child. It first appeared in 2013, and in 2019, Kasing Lung partnered with Chinese retailer Pop Mart to produce and market the toy.
It went viral because of its black and pink Lisa, considered a representative of designer toy culture and inspiring designers to create new, unique and engaging characters.
This is my fan art drawing as requested by my little niece.

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