As far as I know, this was the immediate replacement for Extra Magic hours (early entry) at the parks after 9/11. Since crowds were so low, they discontinued the EMH and instead had characters go to the WDW resorts in the morning. Since tourism has rebounded, this has been discontinued and the EMHs are in effect again, not only in the morning but in the evenings as well for resort guests.
There is also a Character Caravan/Disney Characters on Holiday bus that goes to different locations throughout Epcot daily. Times are listed on the Entertainment/Times guide.