Released in 1997 as part of the 40th Anniversary of G.I. Joe, The pilot was released in a single box by Fun4All as part of the G.I. Joe Classic Collection Keychains. The box is a wood effect and has a window in it to see the Orange Pilot inside.
The back of the box shows the Blue uniformed pilot walking towards his F-86 Sabre jet. Underneath that is a picture of the 4 figures in the single box line and some copyright and trademarking information.
Out of the box, the Keychain Pilot is exactly the same as the original 1994 mold, albeit made out of a cheaper plastic and the date stamp has been changed to 1998. Other than the keychain on his back, his accessory is a helmet with attached airmask.
The back of the figure shows the fact that he has been modified with a plug on his back to attach the keychain to. On the earlier versions, the plug covered the screw hole in his back, whereas in the other version, the screw hole was left visible. In many second hand versions of these figures, it's not uncommon to find them with missing plugs as many fans and collectors snapped them off.
As these are novelty reissues that were common in many stores, they are very easy to find on the secondary market and don't fetch a lot. A complete set of 4 single boxed figures will fetch around £20. But do be careful, as these figures are fragile, as they are made of cheaper plastic and will break very easy.