Labubu were first created as storybook characters by Hong Kong illustrator Kasing Lung in 2015. They originated from his illustrated book series called "The Monsters," which was inspired by Nordic mythology and folklore. Labubu were then turned into collectible plush toys starting in 2019 through a partnership between Lung and the Chinese retailer Pop Mart, which popularized them globally through blind box packaging.
So, Labubu were made as characters in 2015 and became collectible toys in 2019.