11-year-old William Georges decided to create his own Christmas present. The fifth-grader and budding entrepreneur has invented a toy that has been named this year’s Toy of the Year.

Back in kindergarten, Georges was never satisfied with his stuffed bear. So when they were asked to come up with an invention of their own, the little boy found the perfect opportunity for a change.

“I took my mom’s MP3 player and there was a hole in my teddy bear,” Georges explained.

And from that simple music-playing bear, Pezo Pals was born. With the help of his parents, Georges has now created a bear that talks, tells stories, plays music, and records your voice.

“I have improved it by adding a personality,” Georges excitedly added. “It’s magical. It comes alive.”

Pezo Pals has now won Creative Child Magazine’s 2012 Toy of the Year, and the toy is selling well at local stores in Florida.

So what’s the next step for the 11-year-old inventor, other than teddy bear world domination? “I already have an amazing toy, I just need a business partner who will help me put this toy in every single store on every single shelf across the United States,” Georges said proudly.