White Rabbit with Blue Egg, George's Marvelously Naive Old Relief Carving with Polychrome

Oh bunny. I found this one at my last stop on a relatively fruitless recent loop through southern Maine--just my sort of awkward and lanky (what long ears you have!) rabbit, which of course seemed as though he'd been sitting there a while waiting specifically for me, and which definitely made my outing feel worthwhile. Surely he or she is meant to be an easter bunny, holding what I take for a blue egg, maybe borrowed from a Robin friend. Fabulous surface to the old paint and carving both, and signed proudly on reverse by a young George (H. Rees maybe?) Completely what it is but also to my sensibilities pretty transcendent. 

6" x 5" not including hook, 3/4" thick. Very good condition, great old patina. C. 1920s-40s I would think.