This is a Sonic dangle. The 'string' from the suction cup to the figure is likely a bendy, springy wire. If you stick him onto something (Like a car window) he'll probably bounce around on the wire. Here, Sonic is heading a soccer (football) ball while in a running pose. The sculpt on this small item is very good. He seems quite proportionate and the pose is nice and dynamic. With the added appeal of soccer, this is quite a good collectible! It likely could be won at an arcade. Is it related to the Eggman bell above?