I got this for my uncle that died. He was a bouncer for the Greatful Dead and he loved them so I got a dead bear in memory of him and it says "godfather" in chinese next to it cuz he was also my godfather. R.I.P. ~R.C.~
The two characters are indeed "god" and "father," but together they don't mean "godfather." In both Chinese and Japanese this word means "Catholic priest."