19th century carved young man.

19th century wooden folk art figure of a man 22 inches tall. From a Philadelphia estate. He is holding a biscuit or a rock in one hand and waving with the other. He has short trousers like knickers and a bowl hair cut. There are many buttons on his shirt and coat, a red collared shirt and a tie. I would like to know what era, possible purpose and what he might be holding. Sorry about the photos I am tired of having my photos turn one time and not the next.