Well, there's good figures (see last post) and there's pathetic ones...
The above is the South American knock-off of a Columbian knock-off of the Super Powers Collection of DC Comics' superhero action figures from the 1980's. The series' main star is El Capitan Ray, a cheap knock-off of Superman.
And what you are seeing here is an original creation of the knock-offers, not intended to imitate any specific DC superhero. It is Hombre de las Nieves, literally "The Man of the Snows" aka the Abominable Snowman, aka yeti!
It is actually just a recast Incredible Hulk figure painted white and gray.
And oddly enough, Hombre Increible is part of the same series. So maybe they are twins?
This is odd that they'd be part of the same super-team. Hulk and Yeti have a history of battling each other (see also here), and one time Hulk even disguised himself to look like the yeti in order to scare people. Frankly, I don't know which one is more pathetic, this action figure knock-off, or Mr. HULK bulk.
Get a job, Hulk! And quit with the smashing.
Source: Super Powers Archive