As long as your bear contains only pure undyed wool you are fine, but from your avatar pic, the facial features are made with dyed wool. So your bear would kind of be faceless :(
Hopefully after that big meeting they had with the textile industry, they've got some good info which shows that textiles don't contain lead. I don't think they will make the exemption for dyed textiles before the 2/10 deadline, but I am confident they will do it before August in some fashion.