I get this question in my DMs at least five times a week. It's usually from someone who just saw a TikTok of a purse covered in colorful, rabbit-eared monsters and thought, "Okay, I need one." Then they start looking around and see a whole other world of Labubu figures sitting on shelves, in display cases, without a single metal chain in sight. It's confusing.
So let's clear the air right now. Are all Labubus keychains?
No. Absolutely not. And honestly, thinking they are is like thinking all sneakers are basketball shoes. The keychain Labubus are just one popular style in a much larger, more diverse universe created by artist Kasing Lung.
The confusion is totally understandable. The series that went viral, the one that got a shoutout from Lisa of BLACKPINK and sent the internet into a frenzy, was The Monsters Exciting Macaron series. They are, by design, keychains. But they are not the beginning and end of the Labubu story. To really get it, you have to understand the two distinct paths of collecting: the Keychain Monster and the Display Figure.
The Keychain Monster: Labubu as a Fashion Statement
This is the Labubu that took over your social media feeds. We're talking primarily about The Monsters Exciting Macaron series, but also its spiritual successors like the Fall in Wild series and the Sweet Bean Gummy series. These aren't just toys; they're accessories. They were designed from the ground up to be portable.
When we get these in stock at PopNya, the first thing I notice is the packaging and the intent. They come with a sturdy lobster clasp and a little branded tag already attached. The loop is embedded directly into the top of Labubu's head. It's a permanent part of the figure.
The whole point is to clip them onto your bag, your belt loop, your car's rearview mirror. They're meant to be seen, to be part of your daily life and your personal style. This is why they blew up in the fashion world. A simple tote bag suddenly becomes a curated piece of personal expression when it's adorned with a Soymilk, a Sea Salt Coconut, and maybe even a secret Chestnut Cocoa Macaron.
But this popularity came at a cost. A wild one.
Before the viral explosion, you could buy a Macaron blind box for around $17. It was a fun, accessible little thrill. After Lisa's post, the secondary market went nuclear. I'm not exaggerating. I saw a standard Soymilk Macaron, which we sold for retail, being flipped on eBay for over $90 the next day. It was absolute madness. This is where a lot of new collectors get their first taste of the hype, and sometimes their first taste of getting ripped off. If you're just starting, please be careful out there; it's why I wrote an honest guide to buying a Labubu keychain without getting scammed.
And then there's the chase for the Labubu keychain secret.But with the keychain series, the desire for the secret is on another level. Pulling a secret like the Lychee Berry Macaron isn't just a win for your collection; it's the ultimate "flex" to hang from your bag. These secrets can command insane prices. I've seen the Green Grape secret from the Gummy series sell for over $200. It's a whole different ballgame.
The downside? These little guys live a rough life. They get banged up, the paint can chip, and I've had customers tell me the chain hardware can sometimes feel a little less premium than the figure itself. They're built for adventure, and they'll come back with battle scars.
The Display Figure: Labubu as a Work of Art
Now, let's talk about the other 80% of the Labubu world. These are the non-keychain figures, the ones that I personally believe show the true breadth of Kasing Lung's artistry. We're talking about iconic series like "How Are You Feeling Today?", "The Monsters Art Series", and "Forest Concert."
These are not accessories. They are mini sculptures.
When you hold one of these figures, you immediately notice the difference. They often have more weight to them. The focus is entirely on the form, the texture, and the paint application. There's no metal loop drilled into the head, which, for a display-focused collector like me, is a huge plus. The silhouette is clean and uninterrupted, just as the artist intended.
Take the "How Are You Feeling Today?" series. Each Labubu is a little emotional diorama. The "Worried" Labubu has a unique, furrowed brow sculpt. The "Playful" one has a different pose and expression. These subtleties are the heart of the collection. They're designed to be placed on a shelf, arranged in a scene, and admired. You can see the fine details, the matte finish on the vinyl, the tiny painted elements on their accessories.
This is also the category of Labubu that you can often dress up. Because they don't have a keychain jutting out of their head and are a slightly different scale, they are the perfect canvas for the massive world of 1/12 scale doll clothes. It's a whole sub-hobby in itself, and finding the right outfits is a journey. If you're curious about that rabbit hole, I've put together some thoughts on the unofficial guide to Labubu clothes.
One of the most common questions I get is, "Can I just remove the keychain from a Macaron to display it?" The answer is no, not cleanly. The metal loop is anchored deep inside the vinyl head. You can cut it off with pliers, but you'll be left with a metal nub or a hole. It will never look like a figure that was designed for display from the start. I've seen people try, and it almost always ends in a damaged, devalued figure.
Real Talk: Which Labubu Is Right for You?
So, now you know the two main families. Which one should you collect?
Go for the Keychain Labubus if: * You love the idea of a Labubu as a fashion accessory. * You want to take your collection with you and show it off. * You get a thrill from the hype and enjoy being part of a massive trend. * You don't mind a bit of wear and tear on your figures.
Go for the Display Figure Labubus if: * You are a fan of Kasing Lung's art and want to appreciate the sculpts in their purest form. * You plan to display your collection on a shelf, in a case, or on your desk. * You care about the pristine condition of your figures. * You want to avoid the peak market hype and get more unique designs for your money.
My Honest Opinion as a Seller and Collector:
I'm going to say it. The non-keychain figures are severely underrated right now. While everyone is scrambling and paying 3x retail for a Macaron, you can pick up some of the most beautiful and creative Labubu figures from other series for their original price. The "Let's Christmas" series, for example, has some of the most intricate and charming designs in the entire Labubu lineup, and they were largely slept on because they weren't keychains.
The keychain craze is fun, and it brought a lot of new people into the hobby, which is fantastic. But don't let it be the only thing you see. The heart and soul of The Monsters universe is so much bigger. The current market feels a bit like a gold rush, and if you step away from the frenzy, you'll find that the real treasure is in the incredible variety of art that Kasing Lung has created. The keychain is just one small, albeit very loud, part of that.
The Forbidden Zone: DIY Keychains
There's one more thing we need to talk about: the people who try to turn their display figures into keychains. I see this on collector forums. Someone takes a beautiful, rare figure from the "Monsters Art" series, gets out a tiny drill, and sinks a screw-eye into its head.
Look, at the end of the day, it's your toy. You can do whatever you want with it. But as a collector, it makes me physically cringe.
Here's something most people don't realize: it's not just about the hole. The standard vinyl figures are heavier and not balanced to be keychains. They swing around awkwardly and the focused weight can put a lot of stress on that single point, risking a break. The official keychain series are often made from a slightly different, lighter material or are proportioned to hang properly.
Drilling into a figure instantly destroys its collector value. You're taking a $15 (or potentially much more) art piece and turning it into a craft project. If that's your goal, go for it! But if you ever think you might want to trade or sell it later, just don't. Buy an official keychain figure instead.
So, do all Labubus have a keychain? No, and that's the best part. It means there's a Labubu for every type of fan. Whether you want a companion for your adventures clipped to your bag or a tiny, monstrous masterpiece to greet you from your desk, there's a Labubu for that.
The key is to know what you're buying and why you're buying it. Don't just follow the hype. The most rewarding part of collecting is discovering the pieces that truly speak to you. The best way to do that is to see the full range for yourself. I highly recommend you just spend some time looking through a full LABUBU collection to see the sheer variety beyond the Macarons. You might be surprised by what you find.
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