Wubbzy is the godson of Justin Bieber's longtime friend and collaborator Alfredo Flores.
Alfredo directed the Justin Bieber documentaries Believe and All Around the World and before that, worked as assistant editor on the Bieber film School Gyrls.
Godson Wubbzy is around four years old and has recently started school. His family, like Alfredo himself, have a Puerto Rican background.
Wubbzy seems rather shy and there isn't much information about him online, maybe his parents don't want him in the spotlight too much. Instead, here's an interview with Alfredo Flores: