The memorial cost $35,000, and was funded by public school children, citizens of Chicago and the B. F. Ferguson Monument Fund. It was dedicated on October 9, 1922.
The inscription reads:
(On upper base front left side:)
Have you ever heard of the sugar plum tree
tis a marvel of great renown
it blooms on the shore of the lollipop sea
in the garden of shut eye town.
(On upper base front right side:)
Wynken, Blinken and Nod one night
sailed off in a wooden shoe
sailed on a river of crystal light
into a sea of dew.
(On back of base:)
Erected in 1922 by
school children and
citizens aided by the
Benj. F. Ferguson Fund unsigned