Made by Chinese toymaker Pop Mart, the fanged creatures have taken the world by storm, adorning the handbags of celebrities such as Rihanna and Dua Lipa -- and Thursday night saw the launch of their latest iteration, a palm-sized Labubu.

The mini monsters were up for grabs online for around $11 each, and sold out almost immediately.

Li was one of the lucky ones, managing to snag a box of 14.

"I'm super happy right now," the 32-year-old told AFP on Friday after collecting and unboxing them at a shopping mall Pop Mart.

"I'll hang them every possible place I can."

Labubus, which have caused frenzies at stores internationally, are released in limited quantities.

They are typically sold in "blind boxes", meaning buyers don't know the exact model they will receive.

Outside the bustling store, mother Li Jianuo -- no relation to Maki -- smiled as she filmed her two children tearing open their boxes.

She said she had spent over 1,000 yuan ($140) on multiple new Labubus as a back-to-school gift for her children, both big fans.

"It's so cute!" her 12-year-old daughter exclaimed when she saw white ears peeking out of her box.

"I wanted to fulfil my children's wishes. They really like it," Li told AFP, adding she wouldn't sell them even if her kids lost interest.

"When they grow up, they will be able to look back at how we scrambled to get it. I think it's important to have that memory preserved," she added.

Labubus have even made it into the speeches of Communist Party officials.

Last month, commerce minister Wang Wentao used the toothy-grinned dolls as an example of "new forms of consumption... (and) new trends" that could help boost China's stubbornly listless economy.

Zhang Jiaru, who bought a box of the mini toys as well as a bigger version, told AFP she was willing to spend on the dolls as she liked its "ugly-cute" look.

"It's about paying for your own interests, right? It makes you happy," the 27-year-old said.

"People can't afford the big-ticket items anymore -- they can't buy Balenciaga, so they buy Pop Mart instead," Maki Li said, referring to the luxury fashion house.

Li said that wearing his newly purchased Labubus felt "healing".

"They can keep you company for a long time."