This is HaoYu TOYS (sounds like a greeting: "How U?") upcoming release: ZH002 Journey To The West 1/6th scale Monkey King 12-inch figure which will come with Head sculpt x 2, 12-inch figure Body, costume / outfit consisting of shirt, Pants, Belt, Shawl, Tiger skin, Shoes, Hat, Hand types x 5, Stick / staff, Cloud and figure display stand.
This is certainly not the first Monkey King figure to have ever been released. Inflames Toys also released the 1/6th scale 齊天大圣 The monkey king limited edition 12-inch collectible figure (preview pictures posted HERE). There was also the Very Cool x Coo Model 1/6 scale The Monkey King (Donnie Yen as Sun Wukong) 12-inch figure (posted HERE). Even the Japanese were in on it. Check out the Medicom Toys RAH (Real Action Heroes) 1/6 scale Monkey Magic Saiyūki Gokū 12-inch Figure reviewed HERE.
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This HAOYUTOYS Journey To The West 1/6th scale Monkey King 12-inch figure looks very similar to the Inflames toys x Newsoul toys 1/6 Story Of A Journey To The West - Sun Walker (孫行者) 12-inch figure (pictures HERE)