So what dos that say “Insert here” ?

That or like, 'Do not open till spring'. Anyone got a translation?

I'm pretty sure that's not a language on the tag, just kinda squiggly lines. It's supposed to be a spirit talisman, to ward away other spirits or oni. Her master probably dosn't want anyone else touching her :D

Well, I'm pretty sure it is.

Looks like a stylized form of kanji.
There's also an older form of Chinese that looks like this.

http://en.wikipedia.org/wiki/Seal_script

I don't see the Chinese connection. It appears to be pulled roughly from hirogana symbols, with an extra style thrown in for flare. It's also possible that it's simply designed to look like a talisman to ward spirits. If memory serves, talismans like those were placed on homes to ward spirits, so perhaps the user wishes to guard his little prize from other oni or spirits.