He's a funny Red Skelton character I vaguely remember from the early 70's. Notice the worn suit he's wearing. Looks like it was nice suit at some point, doesn't it? His inspiration for the character's clothes was the crash of '29 and the depression that followed. Many people who thought themselves rich the day before the crash, found that after the crash, they were on the street and all they had were the clothes on their backs. My grandfather told me it was not uncommon to see a bum on the street like that; wearing a worn out expensive suit, sometimes mumbling about what he "used to be".
This article reminds me of that character.