"The funniest, cuddliest friends you've ever heard!"If anyone has any further information on these guys, a resource would be useful since there is next to nothing about them already online. In fact, most of my immediate knowledge of them is probably from a snippet of a toy magazine I read many years ago and just happened to retain.
These were a small, probably very short-lived series of animatronic animals in funky colors and patterns that each had movement and sound effects. They were likely aimed more at toddlers than at the general toy audience because they helped with sensory stimulation, cause and effect, and so on. They were fairly large, designed for use on the floor, and to my knowledge weren't intended to be sat/ridden on.
There were three animals - Silly Filly (purple with yellow mane) was the original, and her friends Peppy Puppy (magenta with white ears) and Chika Chimp (yellow with green tuft of hair) were added later. All had googly eyes - the craft supply type, but with stronger plastic - and scrunchy fabric covering their legs to accent the bouncing movements. Sound effects included each animal's sound and probably various "silly" fills and music.
Probably also significant: they were on several critically acclaimed "best new toy" lists during their time and were given out to test audiences in daycare centers to help spread the word.

(The only image I've been able to find online - cover of the 1992 Tiger annual featuring Chika and Peppy.)
http://www.transformertoys.co.uk/images/instruction-scans/hasbro/Silly_Friends.pdf(PDF of the instruction sheet from 1991.)