This flat item is a fairly large magnet.
It's one of those flexible-ish flat magnets (inset shows the black back) It's cute, & looks like the Sonic 2 title screen, to a degree. It has both Sonic & well-drawn Tails coming out of the winged star-ring with the usual banner. However, due to the era, the banner still uses the Segasonic branding. You can see the copyright directly under it. The magnet is diecut & full color, it looks like a quality item. It's too bad it's uncommon.