Update : It has been announced to be a Wooden Minifigure with poseable hands- Link here.
LEGO has recently sent out an email blast to LEGO VIP program members in the UK with an enticing line urging us to register for a Pop-Up event at Covent Garden on the 1st and 2nd of November 2019. Spots have been fully reserved for 1st Nov 2019 but slots for 2nd Nov 2019 are available at the time of this article’s publication based on the live event page and we can see that it will be branded as a LEGO Originals product.
LEGO originated as a manufacturer of wooden toys so for them to brand a Wooden Collectible as an Original is pretty apt. As to what the wooden collectible will be, perhaps they have given us a teaser at the footer of the email which shows a lego minifigure graphic on a wooden grain background.
Judging by the wordings used in the invitation, we will likely see a more widespread release soon after the launch to other regions, hopefully also to regions without the VIP program.