Blue pencil signature and inscription, "To Peggy Fox, from Walt Disney," on a brown 4.25 x 2 card affixed to the mat of an original production cel featuring a girl puppet from the classic 1940 Walt Disney Studios film Pinocchio. The cel has been trimmed and applied to an airbrushed background as prepared by the Disney Studio to be sold at the Courvoisier Galleries. Image measures 3 x 5.25, with a mat opening of 8.5 x 7.5. Matted and framed to an overall size of 16.5 x 16. The original Disney Courvoisier Galleries label is affixed to the reverse. In fine condition. Pinocchio was the second animated feature film produced by Disney and the first such film to win a competitive Academy Award, making production materials—especially those bolstered by Disney’s signature from the period—extremely desirable.