Hi Sam,

Thank you for contacting Mearto with your appraisal inquiry.
This figure is widely portrayed throughout Asia and is considered - because of his large belly - to represent abundance and good health. I don't recognize the symbol but this was almost certainly made for the export / tourist market.
Based on the photos and information provided, and subject to examination, this is:

A vintage polychromed porcelain "Laughing Buddha" figure
made for the export market in Southeast Asia, circa 1950s
The rotund partially robed figure carrying a small child, marked indistinctly to the underside.
10 inches tall
CONDITION: appears to be in good condiiton
PROVENANCE: acquired in Saigon in 1957
$100-150*
*represents a fair-market value for auction purposes; retail or asking price may vary.

Please let us know if you have additional items to appraise, and thank you again for using Mearto.