More of that Formula 1 Racing merchandise...
And this time it's some kind of mini helmet display? It could also possibly be some type of mini helmet trophy or prize item. The drivers of the fast cars must, of course, wear safety helmets. And, because it is racing, those helmets would of course, be decorated with probably as many ads and logos as possible. And when the Canon/Wiliams team is concerned in the 90s, that means Sonic gets on there too. He's on the top in black and and white, surrounded by the Sega logo. The stand is interesting as it is black but quite shiny on purpose to create a reflection so you see the back of the helmet too. It is a nice touch.

Semi-Sonic Item:
All these racing things are interesting because they ARE Sonic items, but not in a direct way. They weren't made for Sonic fans, they weren't made to promote Sonic particularly, he just happens to be the 'logo' of who is advertising wares on a sports-item, (the car). It's more than a happenstance, but it is also not a Sonic-specific thing, thus it is semi-Sonic.