"Beanie Bo" Inspired By First Dog

The First Family's puppy, Bo, has children all around the country wanting a family pet just like him.

Now kids can have their very own "Bo Obama" -- in plush, that is!

The "First Dog" has inspired Ty Inc., the maker of Beanie Babies, to create The Bo Collection, which is based on black and white Portuguese Water Dogs.

"Beanie Bo" has become quite a hit among the younger set.

"We are very proud of the First Family and wanted to join in celebrating their choice of a family pet," says Ty Warner, founder and CEO, Ty Inc. "Now everyone can own a little Bo and join in the excitement."

Early Show co-anchors Harry Smith, Julie Chen and Early Show news anchor, Russ Mitchell, discussed the latest Beanie Baby Friday.

"We were talking about the Beanie Baby craze from the nineties, it was insane," Mitchell said.

The Bo Collection, which was recently offered in select specialty stores across the country, flew off of the shelves within hours.

"Apparently where these have gone on sale,(Smith snaps fingers)" they are gone that fast," Smith added.

Smith also pointed out that, when customers purchase Bo, the Beanie Baby, Ty donates a portion of proceeds to local animal shelters.

"What about the dolls that used to be Sasha and Malia and they look nothing like them? Now they're calling them Mariah and Sydney?" Chen asked.

In Feb., Ty Inc. discontinued the Marvelous Malia and Sweet Sasha dolls, which bear the same names as the President's two daughters, after a complaint from First Lady Michelle Obama.

At that point, the Ty Girlz names were officially retired and were renamed Marvelous Mariah and Sweet Sydney.

One hundred percent of the profits from sales of Marvelous Malia and Sweet Sasha go to the Andre Agassi Charitable Foundation, which seeks to improve public education for underprivledged youth in the U.S..

The Bo Beanie Baby 2.0 comes with a secret code, which can be entered into Ty's Web Site to explore a kid-friendly virtual world.

The Bo Collection, comes in different sizes and prices, a Beanie Baby 2.0 at $4.99, a Ty Clip at $2.99, a Ty Classic at $9.99, and a Marvelous Mariah or Sweet Sydney Ty Girlz with Bo at $9.99.