The Germans produced many variations of this design in the early 1920s. What makes this stand out is that it still squeaks. Most of these fragile items fell silent decades ago. These were cleverly designed novelty items with their eyes changing when the mechanism is squeezed together. The ghost designs are among my favorite as they stand out in a display case. White really catches the eye when nestled among so many orange and black items. I appreciate this seller's careful and informative descriptions.
This cat squeaker has long been a puzzler. There aren't maker's marks and I can see no characteristics present that would provide a clue as to the maker. There were two designs that are quite similar that I feel were issued at the same time. Whether they were produced by the same manufacturer or by competitors is unknown. The other design has more personality and seems to surface a tad less frequently. To see it, please refer to page 211. (I will say that the current price of $180 is not understandable, given its overall availability and its pretty terrible condition.)
07/17 Update: I was surprised to see this end at $198.50, far above what I felt it would bring based on condition.
This is a wonderful vintage squeaker made in Germany around 1919-1920, at the beginning of the Golden Age of production immediately after WWI. According to the seller, the squeaker mechanism still works, rare for these old toys. However, I don't think this was made for Halloween, but maybe for Valentine's Day. The price seems right for what it is. If it was truly Halloween-themed, it would command perhaps double, plus some.
There is some controversy over just how old these designs really are. Blumchen's imported these in the 1990s along with similar but smaller squeakers on painted sticks. Although I do feel these are somewhat earlier, they don't date any older than sometimes in the 1960s, so bid accordingly.
07/14 Update: These items brought $104.49, a strong price considering the controversy over just how old they really are.