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The correct answer is option 3 - `Utterly Butterly` Amul Girl. This cartoon character has recently completed 50 years of creation.
Option 1, Chota Bheem, is a popular Indian cartoon character, but it has not completed 50 years of creation.
Option 2, Mowgli, is a character from Rudyard Kipling`s "The Jungle Book," which has been around for a long time, but it is not specified that this particular character has completed 50 years of creation.
Option 4, The Common Man, is a cartoon character created by Indian cartoonist R.K. Laxman. While this character has been around for a long time, it is also not specified that it has completed 50 years of creation.
Therefore, the correct answer is option 3 - `Utterly Butterly` Amul Girl, which recently celebrated 50 years of creation.