Based on the Tanaka Pegasus System, this is an extremely rare airsoft revolver, made in limited numbers and long since out of production.
 
The lights underneath the revolver are battery operated and are fully functioning as can be seen. The front trigger has no function and is just for show, and the bolt can be manually cycled, again with no function. The pistol operates in the same way as any other Tanaka Pegasus Revolver.
 
Complete with the original box and paper cover.
 
One thing to note on this revolver, as has been the case with a few other airsoft pistols that were not officially licensed, are the "ambiguous" references and typos.  Such is the case with this type of product, with it not being a licensed replica. Photos of the trades are attached.