He basically is a mascot character. He even has a zipper around his head, but there's nothing inside.

[It's very strange and a bit of a source of insecurity for Teddie, so he opts not to say "empty" as a courtesy, plus Teddie could be listening for all he knows.]

Rather a strange creature, but a useful guide to the TV world. It's just not a place I'd casually take someone, seeing how one's innermost feelings tend to manifest as their own beings.