I'm not one of those people who think clowns are bad per se. Clowns are an intregal part of the circus, and so it is with the Weebles Circus, which was introduced in 1977.
The Weebles line was part of Hasbro's Romper Room division, the brand taken from the long running children's show. The Romper Room brand would later be merged with Milton Bradley's Playskool division after Hasbro bought the board game giant a few years later. Weebles are still being made today, but not as heavily promoted as before.
I must've seen this ad at least a dozen times during that first year, but where was it when I was the target age a decade earlier?