In 1902, Richard Steiff, the nephew of Margarete, designed a toy bear made of mohair and named it Bear 55PB. Inspired by U.S. President Theodore Roosevelt, the initially nameless bear was given the name Teddy, which is still used today.
Roosevelt refused to shoot a tethered bear during a hunting trip. The incident was captured by cartoonist Clifford K. Berryman and published in the Washington Post. The teddy boom began and the Steiff brand gained worldwide recognition.