Hi, it sure sounds like Walt Disney's "Little Man of Disneyland", LGB #D46, c. 1955. The cover shows Donald Duck with the leprechaun; I never had the book or record, but saw the book in Steve Santi's "Collecting Little Golden Books". Hope this helps!
I can remember having a little golden book about donald duck and a leprechaun. It also came with a 45 rpm record (I believe) and it was a read-along story that sounded a bell when you were to turn the page. Has anyone besides me heard of this book or know where I can find one? Thank you! Grapejell