This papercraft is the Sephiroth, one of the villains fighting for the side of Chaos, opposing Cloud, in Dissidia Final Fantasy and Dissidia 012 Final Fantasy (also appears in Kingdom Hearts game series), the paper model is designed by ACE. Sephiroth is a legendary SOLDIER operative who wields an impossibly long blade with great ease. One day, he discovered the secrets of his past and went insane. In battle, he combines long reach with incredibly swift swordplay that crushes opponents in the blink of an eye. Standing apart from the other villains, Sephiroth has little interest in either destroying the world or ruling it, working towards a separate goal. His immediate desire is to face his archrival, Cloud, and he manipulates Cloud's emotions to force him into battle, sometimes for no reason other than to fight him.
There are other Sephiroth paper models at the site:
Itadaki Street – Chibi Sephiroth Free Papercraft
Final Fantasy – Chibi Sephiroth Free Papercraft
Final fantasy – Sephiroth Chibi Free Papercraft
Final Fantasy – Dissidia 012: Sephiroth Executioner free papercraft
Dissidia 012 – Sephiroth Papercraft
Sephiroth's default appearance is virtually identical to his original Final Fantasy VII appearance, with some changes to resemble Yoshitaka Amano's artwork of him; His belt is ornate and decorated with beads, he wears a bracelet with similar beads on his right wrist, and both of his pauldrons have a different design. Underneath his coat are white and lavender sashes, both a reference to Amano's design and to his wings as Safer∙Sephiroth.
Sephiroth's first alternate outfit "Executioner" is based on his appearance in the final scripted battle in Final Fantasy VII, leaving him shirtless with black pants being colored lighter than the original.
Sephiroth's second alternate outfit "Custom Coat" is based on his Tetsuya Nomura artwork for Final Fantasy VII. He wears a less elaborate coat with no sashes or beads, a different belt with the original SOLDIER logo, differently styled bangs and different pauldrons.
Like Cloud and Squall, his DLC outfit, "Kingdom Hearts Gear", is his appearance from the first Kingdom Hearts. Sephiroth's coat flares out behind him and has a tattered appearance. The linings of his coat are red, and he has red wing-like protrusions from his wrists. His hair and pauldrons are styled in the same manner as his Final Fantasy VII alt outfit, and he has a higher collar. Sephiroth's wing, which is always present in Kingdom Hearts, is only present in his EX Mode, and is dark blue and black with a stylized design. This outfit is available for download on the Playstation Store in all regions. His manikin version, Imaginary Champion, is light blue. [Source: wikia]
You can download the paper craft here: Dissidia 012 Final Fantasy - Sephiroth Free Papercraft Download