Odd as it sounds, but I *think* it may have at one time held candy. I'm pretty sure I had the same figure (does it feel kind of cheap? mine did) and if it is, I'm almost certain it was novelty candy packaging.
I know that's not a definitive answer but it might at least be another piece in the puzzle.
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I know that's not a definitive answer but it might at least be another piece in the puzzle.