This IS THE AMAZING DRINKING BIRD. 
Also known as dippy birds, drinking birds, drinking ducks, dunking ducks. Although "amazing  drinking bird" best describes him, and you can buy him here;

Height is 20cm.
 
THE AMAZING DRINKING BIRD
Height 20cm. He really drinks water and will swing all day and night until the water is gone. Then top him up with water and off he goes again. These are extremely nostalgic and most novel. Great science can be learnt by trying to figure out what makes him work.
 
 
 
Price        Postage    Overseas  Overseas
               in Aus.      Sea         Econ_Air _                              mail        mail;     l                 
$AU25     $AU7        $AU12      $AU17
Prices are in Australian Dollars. $AU1 = about $US0.70 depending on daily exchange rate
The 1950's Twinkle Bird
  Here is A box of the Drinking Bird showing exactly what he looks like.
 

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