The Laughing Buddha is also known as the Laughing Buddha of Plenty. In Feng Shui, he is the symbol for wealth. It is believed that rubbing his tummy, which contains wealth, luck, good fortune, and joy will be ours. Laughing Buddha statues are popular house warming gifts. They are also used as good luck charms. It is commonly held that statues of the Laughing Buddha must not be placed on the floor. They must be positioned on an elevated surface, as a sign of respect.