This is the Land of the Lost Secret Look Out made by Larami in 1975.

Looks can be deceiving, the actual toy itself is just south of six inches, making the look out capabilities somewhat limited.

Basically the object here is to crouch down behind your favorite pylon and still be able to keep an eye out for danger whilst remaining safely hidden from view.

This particular toy came in several different color combinations, but I only have the one so far.