This Gwenpool figure is released by Funko in their POP! Marvel x Gwenpool 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).
This Gwenpool figure features Gwendolyn "Gwen" Poole, the fictional character in the Marvel Universe, originating as an amalgam of Gwen Stacy and Deadpool from a variant cover of Deadpool's Secret Secret Wars #2. As a result of the character becoming popular with fans, used as a basis for cosplay, Marvel produced two stories featuring Gwenpool as a character, a backup story in the series Howard the Duck, and a one-shot Gwenpool Holiday Special. Despite the name "Gwenpool", the character in fact has no relation to either Deadpool or Gwen Stacy. A retcon in the Howard the Duck #1 backup revealed her name to actually be "Gwen Poole".