Princess was a Beanie Baby bear that was made in the memory of Princess Diana, who died on August 31, 1997.

Ty, Inc. announced the release of the collectible on October 29, 1997 . Its purpose was to raise money for Diana's favorite charities. Originally, only 12 units were shipped to each authorized Ty retailer . At this time, these were purchased quickly and sold on the second-hand market for hundreds of dollars a piece . But within months, they were shipped en masse, the market became flooded with them, and they were easy to find at retail prices. Still those from the original shipment, were heavily sought by some collectors. These ones were distinguished by a label which read "P.V.C. Pellets" as opposed to "P.E. Pellets", found on the more common ones released later. All Beanie Babies made starting in 1998 were made with P.E. pellets.

The Princess Beanie Baby was retired on April 13, 1999, and shortly thereafter, a Princess Beanie Buddy was announced.