This is a very cute griffin. I mean I love it ....in term of overall look. But I think the fact that it was hanging on should have appeared as something written either above it or on the back to give off that full effect of it hanging on. Otherwise, too cute I can see this one being found in stores.
I can only think of one more flaw with this and its the lack of something above the griffin's head. That blank area seem to scream to me to be filled by something, and I guess that is the reason why I wished for those words. The overall concept though is very nice. It's a great take on the hanging on kitten thing. So I say it's a very clever idea and good luck in the contest.