from the Real World
This was the 8' Superman figure released by Mego in 1972, although it was re-released with different packaging a number of times from 1972-1980. The picture above is the 1977 release, which is only one of many times that this particular figure was released by Mego.
The figure has a removable costume that was made of cloth.
When this figure was released for the first time in 1972, his S-shield was considerably larger, and he was packaged in a solid box. The image on the front and back are the same, featuring a large image of Superman, and above him is the "World's Greatest Super-Heroes!" logo, which has an image of the heads of Aquaman, Captain America, Tarzan, Robin, Superman and Batman. On one side of the box there is images of Aquaman, Captain America and Tarzan, while on the other side there is Superman, Batman and Robin.
A "window box" version also existed, which added Captain Marvel and Spider-Man as images on the packaging. By the time carded versions of the figure were made, the S-shield got smaller, looking more like what we'd expect it to.