What's the Name of That Book??? discussion

So my grandparents had this hardback children's book and I remember almost all of the illustrations were in pink. The story is about two siblings a boy and girl who are trying to get somewhere, I think home, but I'm not sure. They are chased at one point by this really tall guy with a top hat that has two little hearts that I think were on little springs and he had long hair that covered his face. I know the book ended with them looking off a cliff out at the ocean or a sea that was drawn up in a wave with a mean look I think the story ended with a "but that's another story in book 2" or something like that. I remember the kids were like school age and were only up to the tall guys knees. I read this book a lot as a child like 4 or 5 so this would have been 1994-1995, but it was already an old style of drawing and book, think like the Rainbow Brite style of drawing. So may have been published between the 60-80's. I remember the siblings were scared and ran from the tall guy at first, and I think the tall guy's hair tripped him at some point. Any help would be appreciated.

Hi Jessica,

Rainbow Brite as in this one, yeah?


So... can we say large-headed, like Strawberry Shortcake or Holly Hobbie-style?


Do you think the other books in the series were sequels to the first, or was each a different colour scheme?

I wish I could say it sounds familiar to me. ;)