From the eBay listing:
Rare, Sexy Ronald Mcdonald, 'Old Glory', American Flag Underwear Edition, 10' Figure with Box. UVD Toys Wizard Skull. Figure never displayed, new, out of the box for pictures. Limited to 200 pieces worldwide.
Something something Happy Meal innuendo.
Someone else is selling the same thing for $850, so clearly it's a collector's item!