Photocopier Déjà Vu
Remember when they had stuff they really didn't want you to photocopy they'd print it in black on red or something? Because colour copiers and even scanners were not generally available. This 3D printing DRM seems about as stupid as that. It may annoy a few people at home trying to make a copy or two for their own use. It will have zero impact on the serious counterfeiters who know what they're doing and who will trivially work around this.
More to the point, as far as I can see the wide availability of cheap photocopiers has still not killed off the printing industry; ebooks are having more of an impact. The nearest equivalent for toys I can think of is VR headsets so maybe Disney should be concentrating on VR games featuring their characters. Kingdom Hearts III VR anyone?