Easy, cheap to make, all items from the Dollar Store
All you need is :
-Foam Paper (orange and yellow)
-a Roll of Two sided tape (to trace the circle for the body)
-Paper Fasteners
-Googly eyes
Optional Items
-Thin rectangular hole punch (to make the eye brows)
-Paper Fasteners

Step 1: Fur Around the Head

Take the circle of tape tace it on the orange foam, than cut out little triangle around the outside to make the fur around the neck/head.

Step 2: Eye Piece and Mouth

Next cut out the part for the eyes and then cut out a mouth/nose piece as shown to fit over top of the eyes and fur around the head.

Step 3: Making the Face

Attach all of the pieces for the head, and add the googley eyes, eye brows, and use a normal hole punch but only cut a half of circle for the nose.
Draw the mouth as shown

Step 4: Body

First is using the circle of tape tace out another circle, cut it out

Step 5: Arms, Legs and Tail

Arms :
Cut out arms in the shape of a finger, attach with paper faseners, draw on fingers. X2
Legs :
Cut out legs as shown below, attach with paper faseners. X2
Tail :
Cut out a thin, but not too thin line with a bend near one of the end, cut out a little bit of orange for the end of the tail.