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 three paint swatches that accompany the piece represent the colors to be used on the figure: yellow for the belt/straps, red for the boots/pants, and orange supposedly for the helmet. However, the head was cast in orange plastic, so they would not need this color. Notice there is no flesh or green colored swatches since the figure's torso and legs were cast in the respective color 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 the figure 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.