This is a multi-item Sonic theme Desk Set.
While most common in Japan, other lands had desk sets too, fortunately with a Sonic theme. This one has a pouch, pencil, ruler, pencil sharpener, eraser and likely a paper sleeve. The inset (top right) shows what it looks like all together in the clear case it came in. The set uses Sonic the Comic like drawings and re-drawings of various stock art, all on a yellow theme with the plain Sonic logo in red.