If you read the "Manufacture" section you will find this:

> Wulf Hein and Kurt Wehrberger conducted an experimental replication with the kinds of stone tools available at the time. Removing the base of the tusk took ten hours. The body was carved with a steep-fronted scraper; the burins requiring regular resharpening. Several tools were needed to separate the torso from the insides of the arms while shaping the head and shoulders, which involved difficult cutting across the grain of the ivory, often requiring two hands on the tool. The basic shaping is estimated to have taken around 200 hours, and in total the recreation likely took more than 370 hours.[d] Jill Cook, Curator of Palaeolithic collections at the British Museum, suggests that "unless the sculpture was created slowly at odd moments over several months, someone as skilled as an artist may have been excused from other subsistence tasks to work specially on this piece."[23]

Nearly a year of "full time" work at 40hrs/week went into this, so I do not think it was simply a children's toy.

EDIT: Not a year, actually just over 2 months.

Well, except for finger flutings: https://en.wikipedia.org/wiki/Finger_fluting some of which were made by toddlers being held aloft to reach the ceiling.