Ralph Snart Action Figure Sponge
In 1993, NOW included sponge capsule action figures that were poly-bagged in the Mr. Lizard Annual and 3-D Special comic books. Inside the water-soluble capsule was a two inch high silhouette of the comic character in foam rubber.
The Ralph Snart figure came with the Mr. Lizard Annual and the Mr. Lizard figure came with the 3-D issue. Once placed in water, the capsule would dissolve and the figure would appear.
Here's a comic ad promoting the instant action figures.
This video with NOW publisher Tony Caputo demonstrates the figure activation...
Here's a video (53 secs) of Tony Caputo, most likely from May, 1993, in a promo for the Mr. Lizard capsule. It most likely would've been shown on a TV monitor at the Summer's comic conventions (in a running loop with other promos). Note the Ralph Snart tombstone from the cover of Volume 5 Issue 2.
Had another Mr. Lizard issue been published, which had gone into production, there was planned to have a third sponge action figure created; that of Dr. Goot. However, that issue never came to be, and also the newsstand distributor Warner wanted NOW to carry liability insurance if any further sponge capsules were shipped because of the choking hazard for small children.