That's Johnny Roventini. He was the spokesman for Philip Morris cigarettes: a role that allowed him to live well. He actually played on I Love Lucy, who was sponsored by PM.
There were several "Little Oscars" going around the country: as many as 4 at one time, but Johnny never worked for them.
First little person I ever met was a class mate of my sister. He was her square dance partner in sixth grade.
He grew up and was involved in show business, eventually playing a role in the movie Young Doctors in Love, and then, for a few episodes, Carence the cook on Happy Days.
If you were in the Chicago/ Midwest area, you probably saw George Molchan. If you were a kid before the 1950s, then you saw Meinhardt Rabbe.
Just a "little" history.