This piece represents an interesting look into the painting of the Super Powers line. It is called a paintmaster, which serves to show exactly which portions of the figure are painted a certain color. The two paint swatches that accompany the piece represent the two colors to be used on the figure: yellow for the boots and flesh for the face. Notice there is no red swatch since the figure would actually be cast in red plastic.
Here is a close-up of the paint swatches. You can see the color codes written on the swatch backs. Another interesting aspect of this piece is that it is a handpainted internal first shot. This means the piece was cast from low yield aluminum molds in house at Kenner. The milky white plastic is very indicative of internal first shots. The molded arm pins are fairly common on IFS's as well, but there are examples with different pins.