From a recent NE Texas Estate sale:  Vintage Blue Letter W for Walrus baby toy . 
No makers mark or other identifying mark, probably an old dime store type bath toy.  Softer plastic (not hard plastic, not rubbery).  I have several other letters from the same set in my store- but not the whole alphabet.  Very good- excellent played with condition- no cracks or other damage found.  Would be cute for for topping a gift for someone with with the initial W. 
Email  for additional photos.   
From my smoke free home.