The figure is a standard Mego superhero type, with unique sculpted head to resemble the comic character, plus yellow plastic boots, a yellow lightning-bolt sticker for the chest, and removable yellow fabric cape.
The original character of Captain Marvel first appeared in Whiz Comics #1 in February, 1940, published by Fawcett. Due to a lawsuit several years later, the character was found to be too close in design to Superman, and Fawcett stopped publishing the various titles devoted to the Marvel family characters.
In the early 1970's, DC Comics, having purchased Fawcett's characters, decided to relaunch the Captain Marvel character in his own title. By this time, however, Marvel Comics was publishing their own Captain Marvel and were willing to fight to keep a rival company from putting the word 'Marvel' in a comic title; so, DC published the new book under the title of Shazam!, and that is the correct name of this action figure.