This work depicts a daruma. A daruma is a traditional Japanese doll whose figure is based on the Bodhidharma, the founder of the Zen sect of Buddhism. Daruma are often depicted in this roundish shape because of a legend that the Bodhidharma stared at a wall in intense meditation for nine years, until both his arms and legs fell off. Daruma are traditionally depicted in red, but can appear in various colors with different meanings. They are considered good luck figures.
Hiroi Michiaki: This is a daruma.