This Taz figure is released by Funko in their POP! Movies x Space Jam 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 Space Jam series features characters from the 1996 live-action/animated movie that follows Swackhammer, an evil alien theme park owner, needs a new attraction at Moron Mountain. When his gang, the Nerdlucks, heads to Earth to kidnap Bugs Bunny (Billy West) and the Looney Tunes, Bugs challenges them to a basketball game to determine their fate. The aliens agree, but they they steal the abilities of NBA basketball players, including Larry Bird and Charles Barkley -- so Bugs gets some help from superstar Michael Jordan.