At 7.25pm on Tuesday a life-size cut-out of a clone trooper was seized from under the nose of Reel Collectibles owner Hugh Clark, who fears the it could be submerged in Lake Wakatipu.
"It's either in someone's hotel room or at the bottom of the lake."
Mr Clark was working in the store at the time and quickly noticed the clone trooper was gone. He scoured Queenstown streets in search of the cut-out, which was a promotional gift from toy manufacturer Hasbro and popular with tourists.
The cut-out was taken by a young male, who carried it down the escalator of Stratton House and stood waiting for his three friends in Beach St.
A shop assistant, who did not want to be identified, said he looked on with bemusement, but because the person was "not acting like a complete idiot" he assumed the clone trooper belonged to him.
"He was waiting for his friends, with his arm around it giving it a hug. If they had actually been running, then I would have thought something of it."
Senior Constable Chris Blackford, of Queenstown, said by the time police arrived the thieves had made their escape "with one of Darth Vader's men".
Inquiries were continuing.