The way I understand it, Product miniture co. who made the red toy plastic M in the 50s also made a white version to go with the demonstrator program. The reason they used the M to make the white toy was because the M was the only IH tractor toy they were making.
People have seen that antique white toy M and started thinking that because there was a toy, there must have been a real one. So these modern white M toys are actually "toys of toys".
A similar thing happened with the "sprit of 76" cub cadets. The real SO76 was a model 76 Cadet LAWN tractor. But when Ertl made the toy they used the 129 GARDEN tractor casting rather than tooling up a model 76 lawn tractor toy. People that aren"t familiar with the real Cadets vs Cub Cadets wouldn"t know the difference.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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