It was installed in 1994 on the Fontanka River next to the 1st Engineers’ Bridge, opposite House No. 6, where the Imperial School of Law was founded in 1835 on the initiative of Prince Peter of Oldenburg. The students of the school wore uniforms of yellow-green color, which resembled the plumage of a finch, for which they were nicknamed “chizhik-pyzhiks” ("finches-puffs").

The author of the monument is Rezo Gabriadze. This figurine is one of the smallest monuments in Saint Petersburg. Its height is only 11 cm, and its weight is about 5 kg. During the existence of the monument, it had been stolen several times, but each time the sculpture returned to its place.

There is a belief according to which, if you make a wish and hit Chizhik-Pyzhik with a coin, the wish will definitely come true.