This paper model is a Vorlon fighter, based on the Babylon 5 of The Babylon Project series, the papercraft was created by Diego Cortes Pardo. The Vorlon fighter was the Vorlons' smallest known vessel and only known type of fighter.
As with most Vorlon ships, very little is known about it's full capabilities and since they all appear to have been taken with the Vorlons when they left for the Rim, it's even less likely that any new information will be forthcoming. They appear to be able to create there own independent jump point into hyperspace. Fast, powerful and in numbers, these ships have been seen to be capable of overwhelming and destroying a Shadow Vessel.
The ship was designed by Foundation Imaging Co-Founder Ron Thornton. You can download this Babylon 5 papercraft here: The Babylon Project - Vorlon Fighter Free Paper Model Download