My sister and I had a doll like this when we were children (born in the early 1960's). For the 'hands' and 'feet' there were jingle bells (like sleigh bells) and he had one hanging on the end of his triangle shaped hat. He had no hair until I drew some on with ball point pen (boy, did I hear about that). I think my great-aunt Pauline made him.
We called him Jingles.
Love your version and I'm inspired to make one for my sister!