This is called the "Colorless Motion Blanket".
It is one of those faux-fleece blankets that aren't stuffed/filled. Unlike most though, it is 2 sided with a different design on each side. The "Colorless Motion" part refers to the white-on-black line art that makes up each of the characters & their background. In the Sega Shop, this style (and its title) is used on several items. The background for the character is another art of itself, but much larger so it becomes abstract.
The back of the blanket uses a somewhat confusing font to unevenly spell out each name of the 6 characters that appear on the front.

The blanket is 50 by 60 inches, and costs 55 dollars in the Sega Shop online in 2018. This means its a bit larger than other blankets (usually 20 or 30 in stores at retail) and it is 2 sided (unlike others)