It looks like it was originally glued to the head. The doll itself, as you can tell, is very colorful, large, and a rarity for sure. The item "SALE-VINTAGE RARE 1940'S DISNEY PINNOCHIO STORE FIXTURE DISPLAY-20 TALL" is in sale since Tuesday, February 28, 2017. This item is in the category "Collectibles\Disneyana\Vintage (Pre-1968)\Other Vintage Disneyana".
The seller is "pugskiddo" and is located in San Diego, California. This item can be shipped to United States, Canada, United Kingdom, Denmark, Romania, Slovakia, Bulgaria, Czech republic, Finland, Hungary, Latvia, Lithuania, Malta, Estonia, Australia, Greece, Portugal, Cyprus, Slovenia, Japan, China, Sweden, South Korea, Indonesia, Taiwan, South africa, Thailand, Belgium, France, Hong Kong, Ireland, Netherlands, Poland, Spain, Italy, Germany, Austria, Bahamas, Israel, Mexico, New Zealand, Philippines, Singapore, Switzerland, Norway, Saudi arabia, Ukraine, United arab emirates, Qatar, Kuwait, Bahrain, Croatia, Malaysia, Chile, Colombia, Costa rica, Panama, Trinidad and tobago, Guatemala, Honduras, Jamaica, Antigua and barbuda, Aruba, Belize, Dominica, Grenada, Saint kitts and nevis, Saint lucia, Montserrat, Turks and caicos islands, Barbados, Bangladesh, Bermuda, Brunei darussalam, Bolivia, Egypt, French guiana, Guernsey, Gibraltar, Guadeloupe, Iceland, Jersey, Jordan, Cambodia, Cayman islands, Liechtenstein, Sri lanka, Luxembourg, Monaco, Macao, Martinique, Maldives, Nicaragua, Oman, Pakistan, Paraguay, Reunion, Uruguay.