This is an 'updated' set of the Jakks Pacific 'little big heads' plush dolls. Yes they're still SD Proportioned (is it because making real proportions was too hard for them?) and there are SOME improvements over that pretty awful looking trash set above.
First off Sonic:
They fixed the belly dot into an ACTUAL dot, not that bugs-bunny-bootleg thing where it connects to his neck and makes him look fat/stupid always. The face is about the same, and the ears still stand up. Still can't tell how the spikes are without a back view, but he is actually improved.
Next up: Eggman:
They've done...something with the collar/yellow part for some reason? It's still fine. He seems more circular/classic shaped, but there's still the oddball head construction & strange glasses-glint that makes them look like eyes when they're not. He's improved, but mostly by the better/right arm position. still not amazing nor terrible.
Tails is 3rd:
WELL. He's...less strange? He both got better AND worse with this edition. The mouth is like super WRONG. The toothy side smile is never anything he has, so it looks 'Knuckles-like' and bad on him.

The 'center smile' the previous version had was a lot better. This expression makes the plush look cheezy. The eye shape & black parts are much-much improved though. The original was so bad it looked like a bootleg. The chest patch/edges remains to be seen because it is hidden here where it wasn't before. The laid-back ears are a definite minus, as is the raggedy cut on the bangs-shape that's wrong anyway. Still poor, but improving.
Knuckles is last:
But not particularly least, because his eye shape is MUCH corrected. He looks a lot grimmer with the difinitive frown, but it's better than the awful first set of eyes. They also corrected the chest crescent into the appropriate shape. Something's been doen better with his spikes too, and the fists may be bigger. As long as they kept the good shoe detail, he could be all right.
Will these go through another revision?
Hopefully they do. They're better than bootleg looking that they started out with, but they're still not amazing & the Tails is a sure-fire mistake. 

• Photo discovered by Pichu97/Charlie Photo discovered by Pichu97/Charlie
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Fortunately for everyone...
Jakks Pacific keeps going back to the drawing board vs their classic style Sonic small plush line. At a recent show, this set appears re-designed again in their presentation. (It's projected onto a screen in this photo) Notice that it gives the size at 7 inches, and calls it 'wave 1', meaning they have more planned. This time they also mocked up a paper tag, which has Sonic in a ring, is die-cut round & has the logo near the bottom. There isn't a ton to complain about here, any more.
They've got Sonic's ears standing up properly now, with borders, as well as Tails' ears.

Nobody has awful eye placement, Tails' expression looks cute/normal, and Knuckles isn't mutant. They ARE the 'chibi' type style with purposely simple features, big heads & short small bodies & limbs. Eggman's dubious design has his teeth for his neck but really...he looked like that in some of the early art and games. Sonic's spikes are shown all on one side, maybe it's trying to simplify him more? It's a little odd, but doesn't present too poorly. It's good to see them working on making presentable plushes for Fall 2019. Photo discovered by Pichu97/Charlie