He's a Paul Marshall Products Long Limb Tiki Mug. You can find more info on him here at Ooga Mooga. Paul Mashall Product produced tiki mugs in the 60's so this is a really nice find.
According to Answers.com, Paul Marshall Products got eaten by Aris Industries in 1977. See all the info here. Aris is also the same company that ended up with Members Only. Weird.
Thanks again Dave and Danielle. :)