As reported here in the Yehuda blog, Cthulhu plushies seem to be quite popular, and there are a large variety of them, including the new Midnight Reaver Nyarlathotep and several other items here at Toy Vault.
Cthulhu even seems to be popular with the lego crowd as seen in the following:
And of course there are the somewhat famous Action Figures by SOTA.
Hard to believe there's so much cutesy Lovecraft inspired stuff.
With luck this weekend I'll have that first movie review I've been promising...