This is a figure of Superman’s friend Mon-El from DC Direct’s Superman: New Krypton Series 1 released in 2010. New Krypton was an extended storyline that ran over a year that featured the enlargement of the bottle city of Kandor and the political complications that arose from trying to integrate the 100,000 Kryptonians that lived there into life on Earth. Kryptonian scientists devise a way to leave Earth and live on the opposite side of the sun on a planet that created dubbed “New Krypton,” and Superman goes to live with his people, leaving the protection of Metropolis to his friend Mon-El. Frankly, I didn’t care for the story and the fact that it completely took over all Superman-related titles for years made it the point where I stopped buying modern Superman comics. You can read more about the story on Wikipedia here, here, here, and here.
Mon-El, however, is an interesting character as a legendarily tragic figure in the Superman mythos. He originally appeared in Superboy #89 as an alien explorer who had amnesia after traveling to Earth from Krypton. In that Silver Age version of DC continuity, he had super powers and was like a brother figure for Superboy, who named him Mon-El (a combination of Monday, the day he landed on Earth, and El, Superboy’s Kryptonian family name). However, Mon-El’s weakness wasn’t Kryptonite; it was lead. Superboy accidentally exposed his friend to it, which caused Mon-El to tragically develop an incurable fatal illness. Superboy sent Mon-El to the Phantom Zone until he could develop a cure. Mon-El was later able to join the Legion of Super-heroes in the 30th century because one of its founding members Saturn Girl discovered a temporary antidote which allowed Mon-El to leave the Phantom Zone briefly. Brainiac 5, another Legion member, created a permanent antidote.
In modern continuity, Mon-El was also accidentally poisoned by Clark Kent and put in the Phantom Zone, though in this version he was eventually released by Superman and cured by an antidote left in the 21st century by the Legion. Mon-El adopts the identity of Jonathan Kent, Clark’s cousin from London, when Superman/Clark leaves Earth to live on New Krypton, and he becomes protector of Krypton. Mon-El is eventually returned to the Phantom Zone when he develops a resistance to the antidote.