Well on a child's toy at least… the close up's not the clearest (I have shaky hands), but you can see how it's the same, except for the clip-art crown whacked on her head.
just a possibility:
it could be a real old character model or drawing that SE too has licensing agreements with. the drawing it comes from could be decades old now, and even have toys and a whole slew of other crap made after. different toy companies using same character models was mad prevalent in the 80s and 90s
Well on a child's toy at least… the close up's not the clearest (I have shaky hands), but you can see how it's the same, except for the clip-art crown whacked on her head.