Purchased this for my 5 year old daughter for a Christmas present and had a little play on it myself before wrapping it up!
Pros
Good fretwork with no sharp edges.
Construction seems solid
Nice rounded sound
Easy on the fingers for a first guitar
Cons
Several blemishes and some light scratching in the finish
Overall, an absolute bargain for the money. If it were a more expensive guitar, I'd probably return it due to the low quality finish, but given the incredibly low cost, it's not really a problem.
If my daughter doesn't stick to learning the guitar, I can see myself chucking this in the car as a travel guitar when I go on holidays!