>Could I make a sell Tesla plushies or toys and call them “Telsa”?

No, but that's not the claim here. The product isn't called "Jack Daniel's" nor does it have any of the same language on the "bottle."

The toy is "Bad Spaniels"

Furthermore:

>The toy that has Jack Daniel’s so doggone mad mimics the square shape of its whisky bottle as well as its black-and-white label and amber-colored liquor while adding what it calls “poop humor.” While the original bottle has the words “Old No. 7 brand” and “Tennessee Sour Mash Whiskey,” the parody proclaims: “The Old No. 2 on Your Tennessee Carpet.” Instead of the original’s note that it is 40% alcohol by volume, the parody says it’s “43% Poo by Vol.” and “100% Smelly.”

So you comparison is totally wrong.