This is a perler bead version of the CatBread or Nekopan character of the classic internet meme "CatBread/NekoPan". It was featured in one of the very first YTMND pages, ensuring its infamy forever. But, all that aside, I just think it is ridiculously cute, if not totally absurd. If you don't remember this phenomena, or haven't seen it yet, here's a link to it: http://cuppycake.ytmnd.com/
This item is made from perler beads and with a magnet attached to the back with hot glue.
Be sure to check out my other pixelated, 8-bit (and some 16-bit) magnets and crafts.
Check with me before arranging final payments if you are ordering multiple items.