This is a Very Small Micro Machine PWC (Personal Water Craft) Jet Ski.  It is made of plastic and is a highly detailed, Note the rider.  It is about 1 3/8 inches.  I bought this as part of a job lot and it is in good condition, but shows a lot of play wear.  The coin in the picture is a Dime to show just how small this item is. 

I will gladly combine these small items to save on the shipping.  Each additional Micro Machine item would be just $.25 for shipping.