The Emperor's Royal Guard Figural Eraser (Butterfly Originals, 1983)
Oh Hell yes. I've always thought the Emp's Royal Guards were the coolest motherfuckers in film history, or at least, they far outclassed every other instance of "badass battle squad protecting evil incarnate" in all walks of science fiction. On the other hand, maybe it's just that every kid loves red shiny things.
While I would rank Kenner's Royal Guard action figure as one of my all time top ten toys, the eraser is less championable and more something opposite that. At least they threw his staff in there. Searching for a final praise, I'm glad to see those cool vertical oval lights from the Death Star throne room represented on the package. Those were so neat.