It is there with you when you are born. It watches you as you discover life. Taking your bumps and spills as a newborn and toddler. You take it with you on trips and to school, show it off to friends and family. As you grow older, you take it out less and less yet it still watches always curious.
As you grow into an adult, you mostly forget it entirely. You have children and watch them grow, much like the thing in your closet watched you for so many years. Eventually your children grow up and have kids of their own. The thing in the closet watches and observes them too. Eventually as it does to us all you die.
Your children or possibly your grandchild take the thing down from the closet and observe what it is. They take it for themselves only to either place it in their closet or their children’s where it observes the whole process. After all it’s just a teddy bear!