It stands four feet high, looks like a squat monkey with a giant head and doubles as a chalkboard that can be drawn on and wiped clean. And it costs $5,000.

Is it a toy, or is it art?

Even the toy industry is split. The statue, known as Monsta Munny, is part of a growing category of collectible figures called designer toys. Kidrobot, the statue’s maker, leans toward calling them art, while its leading competitor, Funko, sees them more as toys.

No matter how such designer toys are labeled, consumer demand has made the sector a booming business.

Sales of all collectible toys — a category that also includes action figures, miniature figures and trading cards — surged 33 percent in 2016, according to the NPD Group. That has helped the toy industry’s overall sales rise 5 percent last year.