Billy the Breakfast Beaver

Billy the Breakfast Beaver appears to be some sort of breakfast cereal mascot.

Pilot (Part 1)
Denny Clay was unable to go meteor-hunting right away because he had to see a man about some Billy the Breakfast Beaver figures.

Pilot (Part 2)
Denny purchased the statues in question, and was starting to put them away in his scrapyard when Underbite and Grimlock arrived and began fighting. Underbite found the Billy statues to be very tasty, and a trailer load of them was later used to lure the Decepticon to a quarry where he was defeated.