Vintage Christmas Craft Find - Jointed Santa with Bag of Toys

My mom gave this to me after having found it in the Storage of Lost and Forgotten Things. I remembered it, sort of, as something my grandmother had made circa 60's maybe early 70's. My sister and I may have even painted it, but memory fails me. Funny, but handy, that she kept the magazine page stored with her crafty Santa.

I also remember the chalky and colorful paints she often used - I think they were called "poster paints". She would paint the big window with seasonal icons throughout the year, always a welcome sight for two excited grandchildren!