Yes, he made his version of Pinocchio in 1940 however he did not create Pinocchio. Pinocchio was from a children's novel, The Adventures of Pinocchio written by Italian writer Carlo Collodi in 1883.
I'm going to assume this question is about the character, not the movie. The character of Pinocchio was first featured in a book from 1883 called "The Adventures of Pinocchio." It was written by Carlo Collodi, an Italian author.
Pinocchio (1939).
Mickey Mouse has two buttons on his pants.
Seeing that Pinocchio was Disney's second film there were very few characters to hide in the movie so, there's no reason to believe there are hidden characters from Snow White [Disney's first movie] in Pinocchio.
Pinocchio's pants are bright red with buttons.
The Disney Channel
Pinocchio wears red shorts in the Disney movie Pinocchio.
The insect in Disney's film, Pinocchio, was a cricket. His name was Jiminy Cricket and he was Pinocchio's conscience. Hope this helps :)
Pinocchio (1939).
pinocchio font
Mickey Mouse has two buttons on his pants.
Pinocchio .
Seeing that Pinocchio was Disney's second film there were very few characters to hide in the movie so, there's no reason to believe there are hidden characters from Snow White [Disney's first movie] in Pinocchio.
Pinocchio's pants are bright red with buttons.
"When You Wish Upon a Star" from Pinocchio (1940).
Pinocchio
Pinocchio (1940)
The Disney Channel