For those who don't know, the "Made in France" label only stipulates that final production has to take place in France.
As a result, shoes for example are all made in Vietnam, Morocco or wherever the labor is cheap, shipped to France, and the "Made in France" label is applied, and that itself qualifies as the final production step.
I guess the makers of the plastic giraffe didn't even bother to comply with the letter of the law, if not the spirit. They could've gotten away with it very easily by setting up a bogus final production facility on French soil.