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Laughing Buddha sitting on Luck Coins and Carrying Ingot. 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. Laughing Buddha Figurine Fengshui Figurine Laughing Buddha Sitting on Luck Money Coins Carrying Golden Ingot for Good Luck & Happiness.