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Looks more like Picasso. That's quite a masterpiece. He has a few more to go.
This site shows off my gnome/elf Christmas postcard collection. Most of these postcards are from the early 1900's. I think that they are a remnant of a bygone, pagan era in Northern Europe, when the Winter Solstice was celebrated with the use of the "Fly Agaric" mushroom. Christianity has Disney-fied the celebration, but it would seem that a few talented artists, perhaps inspired by Lewis Carroll's Alice and Wonderland (1865), were still celebrating in the old way.