According to Chinese history, Budai was an eccentric Chán monk who lived in China during the Later Liang Dynasty (907–923 CE). He was a native of Fenghua, and his Buddhist name was Qieci. He was considered a man of good and loving character.
The term buddha means "one who is awake", connoting one who has awakened into enlightenment.
Budai or Pu-Tai, his name means "Cloth Sack, and comes from the bag that he is conventionally depicted as carrying. He is usually identified with (or as an incarnation of) Maitreya, so much so that the Budai image is one of the main forms in which Maitreya is depicted in East Asia. He is almost always shown smiling or laughing, hence his nickname in Chinese, the Laughing Buddha.
This Budai has been hand carved by Balinese woman at villages near Mount Agung, generating extra income for the family.