Very good.  No rips or tears.   This little sweet bear squeaks very easily when you pick it up.   The  squeak is not too loud,  just right in my opinion.   The nose is a vibrant yellow.  The bib has a yellow duck swimming on water of blue lines and there are two blue birds flying in the sky.   There is light pink on the ears forehead belly and paws.   The eyes and nose are black.  

As with many of these toys, there are signs of age in the smudges.   I gently cleaned the toy with soap and water, but there are still spots.  

This toy could be turned into a bank if desired.   The cutting line has not been perforated.  

It is a great piece to add to any collection or nursery decor.