Prototype of Mego Old B.O.B
While three characters did see limited release in Italy as Magnetic character, Old B.O.B didn't make the cut this piece is from the collection of John Bonavita.
None of the Magnetic characters saw release in the United States although they were all pitched to buyers, the film's poor box office likely kiboshed any further releases.
It's not known why GIG in Italy didn't release this character, although judging by the amount of MIB examples you can still find, one could guess.
Bob comes apart!
Many thanks to John Bonavita for these amazing pictures and information.