Here is the Sonic "Grab n Glow" light. It appears to be by Lite Force/Tech4Kids but Jazwares likely had something to do with the figure or packaging. (note the honeycomb pattern blue/yellow background they like so well)
It's labeled a "2 in 1" because it works as a night light (or just a cool light up figure) when sitting down. The 3D plastic Sonic figure inside lights up/glows AND shifts colors on its own. But when you pick it up (see hand in illustration) it switches to shining a beam out of the bottom so it's a flashlight too. It has an auto-off timer if it's inactive so it won't run the battery down. The package has a mirror behind the light to show it off.
This is a pretty cool idea because it's a utility type thing that's also good for display. It is 9.99 (a decent price for a 2 use thing that has a figure) and will be sold by Toys R Us. (link will last for however long they decide to sell this thing, unless it sells out) Want to see what it looks like lighting up & get more details? Use Sonic Light Details Page (with plenty of big photos!) This uses 2 AAA batteries. This item is in the SonicGear Collection.