Is it the Werehog?
No, but it looks just as hairy. This is the "Movie Talking Sonic Plush", who will no doubt say cringey phrases recorded from the movie. It has flat smooth fabric, with that 'cg hair texture' printed all over to give it a sort of mottled look. The lower face is big like the movie, and they have the brow lowered to ease up on the white face-center that separates the eyes.

Why they cropped away the hands/feet is unknown in the photo, it could be a prototype doll of some kind that they needed to show in order to hold the contest. When/if the doll is released, photos will appear here.