This is an ultra rare plastic Owlbear figure from the 1970s, which inspired Gary Gygax to create the Dungeons and Dragons monster the Owlbear. It's about 2 1/8" tall and is in nice shape with some paint wear to the back. For some unknown reason this creature was pulled from the production of the plastic monster series early on causing this figure to be well over a hundred times rarer than the Bulette or Rust Monster figures.

I took some pics with and without the flash on.