East is the most suitable direction where these attractive Buddha idols should be placed. Laughing Buddha, or Ho Tai as he is known in Chinese, is not identical to Gautam Buddha. He is, in particular, a Chinese monk who was a regular martyr of children, largely like Santa Claus. He has loads loaded with presents for the little kids. Further, he is usually portrayed with 5 children on him. The Laughing Buddha is frequently mistaken with Gautam Buddha but that does not indicate any discourtesy as the former is even a symbol of positivity and fortune.