I used to have a lot of reference on Freddy, but can't seem to find it. I have the series on DVD, but can't do screen caps. I'll see if I can dig anything up on my other computer -- may have saved a few things.
Take a look at pic above, the one with Jimmy holding flute -- it does NOT look like the same prop from Profiles. Note the lower three bands, or rings, at bottom of flute...the one on very bottom appears to be a bit larger/thicker in diameter than the two above it, while one the Profiles prop, they are all same size.
From what I can tell from still framing the DVD episodes and what I have read on the internet, there were a couple talking flutes made from rubber that had a cable stuck through the bottom that went up into the head area and controlled making the mouth open and close. There was one made from foam rubber that got wet and Jimmy twisted it (wrung it out) to get water out of it -- I believe this was seen in the first episode. There was one that was rigged to crawl like an inch-worm, and there appears to be some that were solid non-taking versions and some that were made of a flexible material (rubber?) that flopped around a bit when held -- although I suppose these could have been the talking versions without the wire cable mechanism in place, but I imagine they would have made a few that were softer for scenes where it was in actor's shirt or pants and they were dancing -- so they wouldn't be injured.
Of course, this is mostly based on my observations -- I haven't been able to find too much written about it.
Another thing to look for on variations of the prop are the eyes -- same basic shape, but when Freddy is frightened, they appear to have tilted eyes upside down to create a more frightened look, although this same expression was used in scenes where Freddy was NOT frightened, so who knows. The placement of the flute holes also varies slightly from prop to prop, as does the diamond (rhinestone) placement.
The version I like best, eye-wise, is the one seen on Profiles prop and in most close-ups on the series.
As you may have guessed, I LOVED this show as a kid, and when I introduced it to my young daughter, she fell in love with it, which is why I decided to make her a little Freddy Flute, and then eventually one for my collection.
I wish I could find the shiny fabric material they used for eyes and bands on the real prop. The Profiles auction also mentioned that they used a gold leatherette type material on BODY of flute.
I'll see if I can find some reference photos and post them here.