This is a mini backpack.
It is only about 10 inches tall. Sometimes mini backpacks show up as 'toddler backpacks' where they are listed for sale...but they generally tend to get used more as a purse than for some super little kid. This one is traditionally shaped, but does not have the usual 2 outer pockets so the design is solid. It has all CG for the characters & shiny gold ring. Sonic is popping out of the ring doing a thumbs up, Tails & Knuckles are in the bottom corners, and it also includes Shadow at the top left and pointing Eggman in the top right. With a black nylon strap carry handle on top, it does have the usual shoulder straps on the other side too. This is a 2020/2021 item that is likely on Amazon, at about 13 dollars so not a bad price at all.