This pin shows The Crocodile (Tick Tock) from Peter Pan. He is in the water about to eat an ice cream sundae that has spilled a little on to the rock it is sitting on.
The reverse of the pin is silver and has impressed ice cream cones. On the back of the pin is written "Disney Studio Store Hollywood Limited Edition of 500 ©Disney Made in China T794-2679-3-14258". The rear of the pin has one post and two nubs.