Pretty certain that's a Steiff teddy bear.
It probably belongs to the little girl, but she was mucking about, and it was taken away so that the photo could be taken.
What ever is it that the little boy is holding...is it a walking stick, does he have a handicap? Or is it another toy?
Are the couple in the middle the granparents of the children and the other seated pair the children's parents?
Is the older gent in Colonial costume, PJs, or looking at his shoes, does he play cricket?
And why are most of the gentlemen wearing Steiff buttons?
Well, they could be Steiff buttons....couldn't they?
Just rambling, bit tongue in cheek, but what a smashing and interesting photo.
I'm glad I took the time to have a look at it.