Cookie Monster Play Clock & Bank

Cookie Monster Play Clock & Bank is a Sesame Street toy made by Knickerbocker in the late 1970s. According to a Knickerbocker catalog:

"When the hands of the clock are set on the hour, Cookie Monster tosses a play cookie into his mouth. Helps teach how to tell time and save money too. Includes two play cookies which can be used over and over."

This description does not technically make any sense.