According to the footnotes given in Cindy Mao and Ma Baolin's Sing Chinese
, the song is famous both in Mainland China and Taiwan and has been made popular by Teresa Teng, a Taiwanese singer.
I love singing it myself, what with it being in Eb and the voice part ranging over one and a half octaves makes it very Chinese for my taste. The lyrics are simple and beautiful as befits a children's song. The singer vows to love a clay doll for ever, because it has no parents, and even if it cannot talk.