This is the Space Defender Space Squad Play Set. It comes with a lightsaber-like sword and a space gun toy.
I got this at Toys R Us recently, but there's no date on this thing anywhere that I could find. I think my Toys R Us store put out some old stock some time recently, so there's no telling when this was originally sold.
These toys have light and sound features, but what intrigues me is the Star Wars imagery on the product's box. Take a look at the inside front of the box; there's Star Destroyers...
X-wings and Y-wings...
A Mon Calamari ship and A-wings...
And the Tantive IV!
The four sides of the box aren't as interesting as the front, in my opinion. They don't really have anything to do with the toy or Star Wars. The bottom shows a somewhat creepy picture of someone firing towards us.
The right side of the box shows some cool looking guys. Maybe they're the Space Defenders or the Space Squad.
On the back it says, "NEWTOYS HK LIMITED" "PENINSULA CENTRE, 67 MODY ROAD" "TST EAST, KOWLOON, HONG KONG" and "MADE IN CHINA".
It also says, "This toy is a replica of a real weapon..."! Which real weapon? There aren't really lightsabers and blasters, are there?
Also shown on the back of the box is the Newtoys logo. And guess what; it's written in the Star Wars font!
There's a sticker on the gun toy that says, "GUANGDONG YINRUN INDUSTRY CO. LTD." "SHANTOU CITY, CHINA" and "1571004430CN".
There's another version of this set that came with a blue blaster and a red sword (which has a much different looking handle). I took some photos while I was at Toys R Us.
The image that's on the handle in the tiny circle isn't anything special; just some sort of outer space scene or an explosion. I can't really tell.
Check out the Space Defender Space Squad Saber page here at Strange Star Wars Collecting.