Although this vendor typically sells quality, "right" items, I suspect that this is a married piece - meaning that two separate items have been incorrectly joined together to form one whole piece. I have seen the clown body many times and have never seen it joined with a cat's head. The bold black of the head contrasts with the muted white and pink of the body in a very jarring way, reinforcing my belief that this is a married piece. These two data points, along with the fact that the head is loose, makes the conclusion of it being married and unworthy of being in anyone's collection seem inescapable to me.
Mark B. Ledenbach's vintage Halloween collectibles blog.