Among the numerous deities worshipped by the Chinese, Maitreya Buddha and Jigong are the most well-loved ones. Books on the legends of Jigong are abundant, but not so in the case of Maitreya Buddha. In view of this, we have specially published this little booklet to introduce to the young readers, the mystical stories of the Maitreya Buddha and his reincarnated form, the Calico-bag Monk, based on widely-circulated folklore. The Maitreya Buddha is also known as the "Laughing Buddha". Baring his chest, he sits cross-legged. He is lovable with his big tummy and cheerful look. According to Buddhism, Maitreya Buddha is the most senior disciple of Sakyamuni (Buddha). He has attained the title of Bodhisattva and made a successor of Buddha, i.e. the future Buddha. It is hoped that the smile of this familiar Laughing Buddha will help one to leave one's worries behind when one comes across him in the temple!