Toys R Us exclusive. The figure was originally a give-away when spending $20 or more on X-Men action figures. The figure would trickle out to shelves and would scan at $0.01, and it was occasionally possible to purchase them for that price depending on the employee at the register.
The figure was widely re-released in a later series.
In the alternate dimension from which Mojo hails, television has turned the people into mindless video slaves! Determined that his ratings would forever remain the highest, Mojo turned his super-scientific arsenal against the X-Men -- recording the battles that followed for rebroadcast to his enslaved viewership!