This is a flip game.
It's a small, flat plastic item that makes a simple game. There are 4 metal balls inside, and a plastic peg on a spring. You use the peg (the flipper) to spring a ball up across the face of the game, trying to catch it in one of the crescent shaped shelves. If you miss it falls back down so you have to do it again. Each shelf is labeled with points so you can 'keep score'.
Games like this are easy for companies to "personalize" notice how the graphic of Sonic has nothing to do with the game, it's just him plastered inside the plastic with points written on his face. The bottom says "Jetix" and "As Seen on Jetix", so it's a game that's also sort of an ad for Sonic X the show. Because they're super cheap to make, items like this are usually seen as freebies or give-aways. Was this a free gift item & if so, what was it with?