This is a Sesame Street Bedtime Stories Sleeping Bag that packs up into the built in zipper compartment to be used as a Pillow or just for easier carrying and storage.
The measurements show in the photos are the opened fully measurements for the blanket. This looks to be a good size for a toddler.
The image is of Big Bird, Elmo and Cookie Monster reading a bedtime story.
If you have any questions please do not hesitate to message me!
Thanks for looking :)