The Falcon character has largely existed as a sidekick to Captain America. The Falcon was introduced in Captain America #117 in September of 1969, originally wearing a green and orange costume; he would don the more familiar red and white version (as seen on the figure) a couple of years later. The character stayed in that title so long that for a while his name became part of it. For some years he was one of a very few African-American characters visible in the comics.
The Mego figure featured a dark brown body with hands taken from the Planet of the Apes figures, which were slightly different in configuration from the other superhero characters' hands.
The Falcon was the only black character who was part of the World's Greatest Superheroes action figure line.