This older one that is also a 'can badge' is sent in next. It is a Tokyo Joypolis arcade exclusive item, so it could be uncommon. It seems likely that it was a prize available there. It has a round red border with 2 tan stars and the label.
The Sonic art is a bit unusual. It seems like modern crossed with classic due to how the spikes are/look of the head, but then the eyes are blank and green. Odly, they chose to delete his pupils and the eye-highlight, just leaving 2 blank green ovals. It looks a bit odd, maybe it was a style/fad look they had going on for a while there. It is unknown when this was made.