This paper toy is the RB Red, based on the game series Robo Pit, the paper craft is designed by StromL. Robo Pit is a robot fighting game released in 1996 for PlayStation and Sega Saturn. The game was developed by Altron and published by Kokopeli Digital Studios outside Japan. A sequel, Robo Pit 2, was released in Japan on PlayStation in 1997 and in Europe and North America in 2003.
The rules are, build a robot and then try to fight your way to the top in arenas that are square in shape. There are many different types of arenas and the time of day can vary.