The Little Mermaid Viewer

This toy is similar to the viewmaster toy I am sure many of you remember as a kid. You know what I am talking about. It is kind of like a slide show you see through some binocular type viewer.
Here is a pic of this particular bootleg toy in its package.

 Now this toy is made by the same manufacturers as the My Li'l Puppy bootleg toy lines. I guess that the bootleggers of these toys have targeted Disney Productions as a good source to generate some income. After all, Disney is known world wide and most kids don't know the difference between an "Authentic" Disney toy and a bootleg toy.

Here is a close up of some of the images that can be viewed through the viewer.

 As you can see above, there are images of several Little Mermaid characters that can be viewed through the viewer of this toy. None of the images appear to be authentic Disney drawings. But I could be wrong.
There are fourteen images on each of the viewer slides. While there are fourteen images on each slide, each image is repeated twice on the slide. So you actually only get seven different images per slide.

How about a pic of the viewer itself?

Now quite frankly, I thought at first that the artwork on this toy may not have been taken from Disney. But the more I look at the artwork on the card and the slides, the more I get to wondering if maybe the art has been hijacked from some Disney product.
What do you think?