This Mugatu vinyl figure is released by Funko in their POP! Movies x Zoolander 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! Movies x Zoolander series features characters from the action-comedy film that follows a dimwitted, narcissistic male model named Derek Zoolander. The film involves Zoolander becoming the pawn of corrupt fashion executives who are plotting to assassinate the Prime Minister of Malaysia.