It's very hard to figure out who this book is for and when they should be reading it. What I mean is, the writing, humor, and storyline is for a more advanced reader, but the vaguely arch teddy-bear character and treatment is for a younger kid. So the ones who might most like it could have trouble reading it and the ones who can read it might very well find it too childish. So far that's been our experience, at least, with our readers.
That said, the book is a good read-to. Some of the humor is over the little ones' heads, but the charm of the character and of the situations he encounters comes through clearly and seems to satisfy. I don't think this is a library essential, but it certainly is a fun option to have available when the mood strikes.