I don't think the actual function of jumping up and transforming works. But the toy itself is twice as large (2-Up) than it's Transformer cousins. Also there is a addition to the tail which forms a nosecone, making him able to transform into actual ship!
This piece seems to be made in the mid 90's or the late 90's. It seems that this is a copy of a previous knock-off Transformer that was made in 1984. It could be the same company under a new name, or a completely new company. Or as speculated before, a piece from 1984 and both are from the same series.
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