This Heihachi figure is released by Funko in their POP! Games x Tekken Vinyl Figure series.

Funko POP! is a crossover vinyl figure series by Funko and other famous franchises such as Disney, Pixar, DC Comics, Marvel Comics, Simpsons, South Park, Uglydoll, etc. Each POP! figure is about ~3" to ~5" tall and crafted in a Japanese anime/manga super-deformed style (NOTE: due to the unique design of each character, the actual size of the figures may be smaller or bigger than stated).

The POP! Games x Tekken features characters from the fighting video game franchise that documents the events of the King of Iron Fist Tournament, hosted by the Mishima Zaibatsu corporation. After beating the game with each character, an ending cutscene is unlocked and usually one of the endings from each game becomes the continuation of the story into the following installment. The story has largely revolved around the Mishima clan curse, which began narratively with Heihachi Mishima throwing his son Kazuya Mishima from a cliff when he was 5 years old. Kazuya was nearly killed from the fall, but through the influence of the "Devil Gene" he survived and swore revenge to his father by the time of the King of Iron Fist Tournament.