Here's another more popular emanation of Maitreya - the laughing Buddha. One of the perennial Buddhist images in China that are seen almost everywhere Chinese culture permeates. I did a bit of search on Wikipedia and found a host of interesting information regarding the laughing Buddha...
Budai or Hotei in Japanese, B? ??i in Vietnamese, is a Chinese folkloric deity. His name means "Cloth Sack," and comes from the bag that he is conventionally depicted as carrying. He is usually identified with (or as an incarnation of) Maitreya, so much so that the Budai image is one of the main forms in which Maitreya is depicted in East Asia. He is almost always shown smiling or laughing, hence his nickname in Chinese, the Laughing Buddha . Many Westerners confuse Budai with Gautama Buddha.
Budai is traditionally depicted as a fat bald man wearing a robe and wearing or otherwise carrying prayer beads. He carries his few possessions in a cloth sack,[3] being poor but content. He is often depicted entertaining or being followed by adoring children. His figure appears throughout Chinese culture as a representation of contentment. His image graces many temples, restaurants, amulets, and businesses.
HistoryAccording to Chinese history, Budai was an eccentric Chán (Zen) monk who lived in China during the Later Liang Dynasty (907–923 CE). He was a native of Fenghua, and his Buddhist name was Qieci (literally "Promise this"). He was considered a man of good and loving character.
The term buddha means "one who is awake", connoting one who has awakened into enlightenment. Over the history of Buddhism, there have been several notable figures who would come to be remembered as, and referred to as, buddhas. Later followers of the Chan school would come to teach that all beings possess Buddha nature within them, and are already enlightened, but have yet to realize it. This teaching would continue into Zen.
Budai is often conflated with (or simply replaces) the historical Buddha, Siddhartha Gautama, in spite of the distinct visual differences in how each has been depicted. In India, Nepal, and throughout southeast Asia, Gautama (who lived during the 6th c. BCE) is commonly depicted as being tall and slender in appearance. In contrast, in China and those areas to which Chinese cultural influence spread, the depiction of Budai (who lived during the 10th c. CE) is consistently short and round.
Folklore
Budai in folklore is admired for his happiness, plenitude, and wisdom of contentment. One belief popular in folklore maintains that rubbing his belly brings wealth, good luck, and prosperity.
In Japan, Hotei persists in folklore as one of the Seven Lucky Gods (Shichi Fukujin) of Taoism.
Buddhism
Some Buddhist traditions consider him a Buddha or a bodhisattva, often identifying him with Maitreya (the future Buddha). His identification with the Maitreya is attributed to a Buddhist hymn he uttered before his death:
"Maitreya, the true Maitreya
has billions of incarnations.
Often he is shown to people at the time;
other times they do not recognize him."
ZenThe primary story that concerns Budai in Zen is a short k?an. In it, Budai is said to travel giving candy to poor children, only asking a penny from Zen monks or lay practitioners he meets. One day a monk walks up to him and asks, "What is the meaning of Zen?" Budai drops his bag. "How does one realize Zen?" he continues. Budai then takes up his bag and continues on his way.