I am by no means certain of my identification, but the figure looks to me to be a Japanese okimono. these are stylistic carvings, larger than netsuke, used for home adornment. Once again, I'm not certain, but the cloth sack he's carrying makes me think of the god Hotel, known as Budal in Chinese and Bo Dal in Vietnam. This god is more commonly known in the western world as "the laughing or happy Budda". He is the god of good fortune and wealth. He takes many shapes and poses, but always includes a cloth sack and a coy look. Most often we see him in a sitting lotus with bulloin in his hands, but as I said, he is often pictured in many shapes. In addition, are you sure of the soapstone identification? It looks in the picture like ivory, perhaps walrus. The top of the head in the second picture, makes me think that. Can you include a close up of the bottom?