Yeah like jmbdlazer said, only time will tell. But I really am convinced it's prince peasly, mainly because yes that looks like the could he flew on. Also, that's how big he was in the first game!
and if anyone I seriously don't think it's fawful, those "big green eyes" look like peasly's head to me. But of course, it is HORRIBLE quality and very small, so there's a very high chance that I am wrong about all of this. xD