This is Modulok

Modulok would have been the World's Greatest Action Figure to a 10-year-old in the 80s but the figure is very much an acquired taste two decades later. The goofy looks, limited articulation and simple interchangeability options mean it's unlikely to win over the average toy fan today. The figure does, however, have an endearing goofy charm that might appeal to those with quirky tastes. The play pattern certainly holds up well as coming up with one Modulok fanmode after another is a fun way to kill a few minutes.

(Review.)