I don't know much about that toy, but the style reminds me of DaDa from Ultraman. Sort of an artistic expression monster. Or a villain from Doom Patrol.
Yeah, its one the monsters created by Mangaka Imiri Sakabashira. He had a bunch of his designs made into sofubi. Drawn & Quarterly translated one of his books called 'The Box Man' into english years ago, which i can highly recommend.