This paper model is a M72 LAW (Light Anti-Tank Weapon, also referred to as the Light Anti-Armor Weapon or LAW as well as LAWS Light Anti-Armor Weapons System) with Rocket, created by Panko and Ennder.
The M72 LAW is a portable one-shot 66 mm unguided anti-tank weapon. The solid rocket propulsion unit was developed in the newly formed Rohm and Haas research laboratory at Redstone Arsenal in 1959.
In early 1963, the M72 LAW was adopted by the U.S. Army and U.S. Marine Corps as their primary individual infantry anti-tank weapon, replacing the M31 HEAT rifle grenade and the M20A1 "Super Bazooka" in the U.S. Army. It was subsequently adopted by the U.S. Air Force to serve in an anti-emplacement/anti-armor role in Air Base Defense duties.
It had been intended in the early 1980s that the M72 would be replaced by the FGR-17 Viper. However, this program was canceled by Congress and the M136 AT4 was introduced instead. At that time, its nearest equivalents were the Swedish Pskott m/68 (Miniman) and the French SARPAC. [Source: wikipedia]