Rudolph teddy bear is a toy that features in Rudolph the Red-Nosed Reindeer: The Movie. It was given to Rudolph by one of the elves at Santa's workshop when he was a fawn.
Years later, a now adolescent Rudolph takes the bear along with him when he runs away from home. Later, whilst Rudolph is asleep, his friend Slyly takes the bear sleep with before putting it back into the backpack the following morning.
On Christmas Day, Rudolph gives the bear to Slyly as a present.
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Rudolph with the teddy bear
Slyly with the bear.