Obviously a marketing gimmick, but a few noteworthy points. First, it's a mascot for an adult cereal, something we don't typically see. And, it suggests that Kellogg is intent on building the Crunch Nut brand. In fact, they also recently introduced a new Caramel Nut variety.
I haven't tried this new flavor, but I wasn't overly impressed with the first two that I tasted. Nevertheless, the cereals must be getting some traction, and Kellogg must believe that there is a strong future for Crunchy Nut.
Press release here.