The white bear is kitted out in a blue t-shirt emblazoned with the Ibrox club’s badge, and is also available for fans of Newcastle United and Portsmouth.
But Rangers fans have expressed their disbelief at the name given to the £9.99 bear, with supporters taking to online forums to registered their surprise.
One fan wrote on the Follow Follow forum: “It’s clearly a brand name, as they do a Newcastle and [Portsmouth] one too but seriously, do they think bears will buy something named Timmy?”
Another wrote: “In all fairness this is a marketing faux-pas. Some idiot hasn’t thought this through.”
People also took to Twitter to comment on the toy, with one saying: “That Timmy bear has to be a wind up..surely?!” while another added: “Who was it that said the ‘banter years’ were over?”
The toy, which is available to pre-order, hits the shops on 25 November - the day after Rangers travel to Dens Park to face Dundee.