Another Sonic themed light toy, this is the "Project-a-Lite". It does pretty much what the title says, in that it is a flashlight that comes with 'mini caps' that have line-art images. When you shine it on the floor/wall / wherever, it can project the image up to 2 feet…
Here's another bank, but this one is quite tall. This Sonic has rather long legs, and crossed arms. This bank came in a box when it was new. There may have also been a bootleg of this bank produced around 2000.