Photo by Wolfgang Kippes
The caption called this a sperlingskauz, which was translated to "Sparrow Owl."
I'd never heard of a Sparrow Owl, but the EPO has a scientific name that is Latin for "Sparrow Owl" that I will assume is how it got its German name.
That's one of my favourite 'flat jokes' (Flachwitze in German).
Ah, I was finally able to figure out the "joke," as I only got the "flat" earlier as I didn't know "huhu." I had just searched for "eulenwitz," and this thing popped up a million times. I knew "uhu" but I was too tired yet to notice the extra H to figure it was a pun. I knew one of you would lead me to the answer though!
For everyone not in on it:
Was sitzt auf einem Baum und winkt? — Ein "Huhu“! What is sitting on a tree and waving? – A “Huhu”!
Explanation: in German, “huhu” is a greeting, while “Uhu” signifies an “owl”
From The ~~Funniest~~ One and Only Multi-Language Jokebook
The intern was supposed to order a box of Uhu (brand that's synonymously used for glue).
They're packaging is pretty distinctive as it is, but I'm a little sad they named it after such a cool animal, but then did not seem to have an owl related logo or anything other than the Adventure Glue bottle, which I don't think exists anymore.