I'm so happy to own this plush again! When I was a kid I used to have him but he lost for unknown reasons.
This Mufasa was released back in 2003 in my country in a supermarket promotion. I have seen this plush is very rare outside of it! This Mufasa (and other Dutch exclusives) are quite common here.
He looks like an adult Simba but this officialy is a Mufasa plush.
I got one for ShadyAndWeezy and theirs have a paper tag which mentions Mufasa.
Here is the proof: [link]