The 5-foot-tall, 40-pound object was found in good condition in a shed behind a house in Williams Point just north of Cocoa, Fla., WKMG-TV in Orlando, Fla., reported Wednesday.
Police followed hundreds of leads before a confidential tipster told them where they could find missing Betty.
Detective Barbara Matthews says the woman who lives in the house is cooperating with the investigation.
The statue's owners, Jan and Clark Moody, were in the process of moving their art gallery to a new location Monday when they learned the statue had been recovered.
"I was setting things up when I got the call to come to the police station and pick Betty up," Jan Moody told WKMG-TV. "I'm deliriously happy to have her back."