Robotic transforming mantis.
I don't remember what it transforms into. Some fighting robot, no doubt. I remember the transformation process is difficult, at least for me, and sometimes the little purple legs would pop off. It looks much cooler as a mantis anyway.
Oh, and the front legs each held a disc-shaped "weapon" that could be launched by pressing a little button. One such weapon has long since been launched into oblivion. The other one is around here someplace.