Definitely a perspective trick. The legs are that long to be able to say that the bear is 6.5 feet long. Buyers want to buy a giant teddy bear and instead they get a smaller bear than expected, but with super long legs. The manufacturer and seller knew what they were doing: purposefully misleading buyers.
I doubt they have the skill and camera to arrange a long-distance zoomed-in shot. The factory is obviously capable of making normal-looking 3” bears so I think they sell those too (at a lower price).
There's really no need for that much effort to make a confusing perspective photo. Just take the photo from a lower point than usual (it makes things seem larger), with the light out of the right direction so that the shadows don't spoil the illusion, with the long legs pointing towards the camera in saturated light so that the depth is not clear. Kinda exactly like was done here.
I really hope it's a perspective trick because that indicates some real thought on the part of the scammer. They intentionally made something that while technically true, is misleading, but possible to photograph without revealing the scam.
I don't think they have the skill and camera to arrange the necessary telephoto shot. The factory is obviously capable of making normal-looking 3” bears so I think they sell those too (at a lower price).