Since the Blue Cub thing is the prize after turning in 20+ collections instead of the Tiger Hanging Fireworks, it's very possible it is indeed a pet. Especially because if you look at the info card to the Fireworks, it details how you can collect from it; among other things.
Maybe they seen my post a while ago in the feedback thread
And are maybe starting to implement it, or at least maybe seeing how it may go. Who knows, they could've also just decided to do it without seeing it. I also may have not been the only to suggest this, I didn't really look at others feedback were.
Either way, oh this would be nice if it truly were a pet being offered instead of the event helper thing, It could give players who couldn't get the main pet from the event, to a chance to possibly get this one instead