It's kind of childish. But it's useful, and cute.
And if you can't have a bit of a joke on your washing line to distract you from the tedium of hanging out clothes you'll shortly be dashing out to rescue when it rains... well...
The peg holders you can get made from nice bits of old fabric are beautiful, don't get me wrong, but this is also weatherproof – even if your washing isn't. Cabina