This is a wonderful piece. The color scheme is warm and inviting. Also, the colors chosen reflect the clothing choices. Reds, oranges, and yellows are typically colors of Fall and the young girl seems to be dressed warmly, but not bundled for winter. Great attention to detail!
I find it interesting that the bear is quite large and holding the child, when typically the scenario would be vice versa. The opposite placement draws the viewer to the feelings that toys can provide; safety, comfort, warmth, love... As children though we are the living being in the relationship we often imagine our toys as lively playthings.
All in all I love this illustration. The relationship between child and toy is illustrated beautifully, the colors are happy and inviting, and the tone brings the viewer to a more innocent time.