To understand better the significance of the Olmec style and its implications for Early Formative interregional interaction within Mesoamerica, one particular type of artifact—the hollow figurine—is examined. A definition of the Olmec style is provided based on Gulf Coast monumental art. One of several contemporaneous hollow-figurine types—“hollow babies” (Group 1)—is consistent with a Gulf Coast–based definition of the Olmec style. Fragments of Group 1 hollow figurines from across Mesoamerica are examined, revealing concentrations at a Gulf Coast center and, to a lesser extent, sites in southern Mexico. Rather than the primarily funerary function previously suggested for these objects, contextual data suggest multivalent meanings and functions. Group 2 figurines are related but different; variation appears in both the distribution of Group 2 fragments across Mesoamerica and their use. Available evidence suggests limited access to hollow figurines of both groups compared with contemporaneous solid figurines. A previous assertion that “hollow babies” were primarily produced and consumed in Central Mexico is rejected, and the significance of the differences among these hollow-figurine types is considered.