This dragon is from Dimensions for Children’s Dragonriders of the Styx line of toy soldier-style plastic figures, released circa 1981. The line was a series of playsets and toy assortments released in response to (and sometimes directly ripping off) Dungeons & Dragons.

The DFC figures have surprisingly good sculpts considering they were cheap Hong Kong cash-ins. This dragon is no exception. Well, aside of that bottom jaw and the ill-advised tongue.

I’ve seen these in red, black and yellow plastic as well. I’ve also seen similar versions from other lines (knock off of knocks offs?) that replaced the head or the wings.