This wax sculpture is one of the earliest stages in the actual production of an action figure. In this case, the figure in question being a yet unknown character who will be wearing a space suit from the [spaceship] Nostromo from the original '79 Alien film.
It will probably be a good year before the figure actually makes it all the way to store shelves from this stage.
It's very cool to see that NECA is continuing the Alien line-- and this in this direction. Having all these characters from the first and second films will be great-- as are the Aliens themselves, obviously-- but NECA has to find a way to get a Ripley figure made. I don't know how they'll do it, but Sigourney Weaver has been adamant thus far about not having a gun-toting action figure bearing her likeness, but with Alien almost more prevalent in toys and pop culture than ever, the time is right for her to finally see the light and give collector's all around the world what we've always been wanting-- a proper Ellen Ripley figure.