Here's the Mascot Suit that was at some of the big premiers of the movie opening.
As you can see they....probably only retooled the head?
It looks like they added shag fur to just the head hoping to make it look like the hairy goblin in the movie. If you inspect it you can see that the lower face is connected to the brow ridge but look how well it is hidden! They're desperate still for him to have the natural looking mono-eye, even in the suit. They made the mouth big, but still set it to one side. The body could absolutely be modern Sonic but just given blue sleeves to make it fit.
What about the shoes?
Did he ever get his real shoes in the movie? The original scrapped one had PRODUCT PLACEMENT screaming loud ugly shoes but then they changed him to something else kind of meh but less screamingly bad. But it wasn't his real shoes? The mascot head looks a bit big for this to be the case for movie-style but...oh well. 

In the gallary is the Movie Mascot suit.
This time, it is indoors at the LA Theater. Because the movie was right before when the virus appeared, theater events were still happening, so a mascot appearance is normal. Having the suit near the giant cardboard ad standee shows that it's...pretty movie-like. It has the giant mouth and is really shaggy like how they had him in the movie. (The ears seem somewhat Werehog-reminiscent)
When comparing mascots with the one from Jingle all The Way (seen on Mascots 2) you can really see the degree of effort for them has gone way up in both Japan and the US, to produce suits that look much more like what they're to represent.