This paper toy is Spiny Shell (also commonly referred to as the Blue Shell, in the game Mario Kart 64, it is known as the Blue Spiny Shell), an item from the Mario Kart racing game series, the paper toy is created by GameBlast.
The Spiny Shell appears in many Mario Kart games as an item from an Item Box. Its general purpose is similar to that of a Red Shell, except that it targets the player in first place. Its function varies slightly from game to game. Aside from the Mario Kart games, the Spiny Shell is a power-up in some Mario sport games. This item has gathered notable criticism over the years, particularly with its appearance in Mario Kart Wii. For more information please click here.
You can download the papercraft toy here: Mario Kart - Spiny Shell (Blue Shell) Free Paper Toy Download