This is Mabel (left) with her imaginary friend Chloe (right). Mabel drew a picture of her special friend. Then professional artists made a full-size plush toy of her.
It's a project led by the ad agency AMV BBDO. They worked with the best artists, so you'll recognize the names: Tsuneo Goda, who developed the character Domo, Becky and Joe, who created Don't Hug Me, I'm Scared, and Aardman Studios, which developed Wallace and Gromit.
The results are extraodinary. You can see more photos of the kids with their now-real imaginary friends at My Modern Met.