Feng Shui Laughing Buddha on Frog Gifting Home Decoration. Budai or Pu-Tai 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 seen as an incarnation of Maitreya the future Buddha. He is almost always shown smiling or laughing hence his nickname in Chinese the Laughing Buddha. perfect gift for someone friend and family.