The model is made by Demetrio Souza.
Check out this cool stylized model of Eddie Munson from Stranger Things created by 3D Artist Demetrio Souza in ZBrush and Marmoset Toolbag.
The artist used Alice Aimino's concept "because it portrays all the friendliness of the character well."
Here are some other awesome works from Souza:
You can find more on the artist's ArtStation page.