This paper craft is a chibi Fallen Angel, based on the anime series Panty & Stocking with Garterbelt, the papercraft is created by tsunyandere. The Anarchy sisters, Panty and Stocking, are angels who were kicked out of Heaven due to their bad behavior. They are sent to Daten City - a pun on the Japanese word datenshi (fallen angel) - a place located on the border between Heaven and Hell, which is besieged by evil spirits referred to as "Ghosts".
Under the watchful eye of the reverend Garterbelt, the two are tasked with collecting enough Heaven Coins to buy their way back into Heaven by destroying Ghosts using their powers, including the ability to transform their lingerie into weapons. However, Panty and Stocking are constantly sidetracked by their respective interests in men and sugar.
You can download the paper craft toy here: Panty & Stocking with Garterbelt - A Chibi Fallen Angel Free Papercraft Download