This paper toy is a chibi Classic Sub-Zero, a playable character in fighting game Ultimate Mortal Kombat 3 and Mortal Kombat Trilogy, initially believed to be the live representation of the deceased original Sub-Zero, the papercraft created by dansrules.
Thought to have been vanquished in the Shaolin Tournament, Sub-Zero mysteriously returns. It's believed this secretive member of the Lin Kuei, a legendary clan of Chinese "ninjas", has returned to again attempt an assassination of Shang Tsung. To do so, he must fight his way through Shao Kahn's tournament.
You can download the papercraft toy here: Mortal Kombat - Chibi Classic Sub-Zero Free Paper Toy Download