I've just learned these hand-painted jointed figures are Amos and Sandy (thus the A on the chest of the black figure), who were the stars of a Black American toy and game set produced by American Screen Co. The set included a platform with a springboard lever which would launch the figures into acrobatic action, jumping through rings and things. While that set is long gone, someone at some point took care to re-purpose the pair of figures, hanging them side by side on what appears to be a copper bar, which is welded to a larger hanger (it all reminds me rather of a ski lift) making it quite easy to hang them from a hook on the wall, or from the ceiling, or wherever. As such, they retain their histories but live on with no tasks to perform, charming in their red, green and yellow hats, gloves and shoes, and big smiles.
The figures themselves measure about 3" tall and 1/2" wide and deep. The bar upon which they hang measures 2" across, and from top of the hanger to the tip of their toes is 9". Very good condition, with a little wear to the paint, as there should be.