I had a ton of these in the late 60's early 70's. Including that one except mine was blue. Tootsietoy used to advertise on kids morning shows. They sold all sorts of "Cool" cheap toys. Recall one of their big sellers was a bubble machine that came with a wand that made a bunch of bubbles all in one sweep.
Used to buy them in plastic packs of like 10 different cars for 50 cents or something like that. Was those platic packs with a cardboard holder that the local neighborhood stores would have hanging on hooks.
These and "Army Men"