The product is a 1993 Ty Beanie Baby named "Ally Alligator" that is part of the original Beanie Babies collection. This specific toy is made with PVC pellets and comes with tags that have errors dating back to 1994. It is recommended for children aged 3 and up, and appeals to collectors of all ages. The Ally Alligator Beanie Baby is a sought after item due to its rarity and unique characteristics, making it a valuable addition to any collection.