What is this figure? Is it a third party? If so, what character is it meant to represent? New TF DreamWorks Transformers SteelPestsTeam SPT01-Steel Bug In Stock | eBay
It's not really representative of anything. If you squint, it's reminiscent of a generic Bayformer, SD/Chibi-style. At best, it's a TF inspired figure in its own line, kinda like the Unrustable Bastards.
I want one but it's a little more than I like to pay for something so small. It's still on my radar though. Here's a video