When I first saw this bootleg toy, I thought, cool! A new Beast Wars bootleg toy. But I had some trouble identifying it. So after a plea to the Bootleg Toys mailing list, I found out that the figure in this toy isn't a Beast Wars figure. Rats! This is still a bootleg toy. Just not one based on any Beast Wars figure. 
Of course, the packaging sure is mostly Beast Wars packaging. 
 
 

Here is the figure. It is based on a toy called Giganodragon. This figure is from the Dino Zone/Dinozaurs toy line. 
This Giganodragon is copper colored with some green plastic thrown into the mix. But I have also seen it in a silver/purple scheme. FYI, the purple and silver colors are the "correct" colors for this figure.
The toy is actually pretty big. From the top to bottom, the figure measures about 14". 

This is the card back. The card is for the Tarantulas figure. But the bootleggers replaced Transmetal Megatronwith the Giganodragon in the pics of the figures. 
The card measures in at 9.5" X 13". The instructions for converting the figure into it's two forms are on the lower right corner of the card. What I really like about the instructions is the butchered english.