This is a completed and painted, fixed-pose figure.
Mizuki Himeki from "Baka to Test to Shokanju" is certainly appealing in her bright-red bunny outfit! She's a game-prize item from Sega--add her to your collection today, and check out her rival Shoko, linked below!
Please note that the photos shown are of a prototype; the production version may vary. Also, figures such as this are mass produced and as a result some inconsistencies in finish and painting may occur; these are not considered manufacturer's defects. If you absolutely must have perfection, prepare to do some touch-up work on your own.