Oh look, it's a generic Time Lord wearing its what appear to be Prydonian robes. (The Time Lords had a class system.) This is from the Third Series of the line. The character is featured in the Third Season flashback to the time of the Master's childhood. It takes its visual cues from the Time Lords that appeared in the classic series, so in many ways it represents the classic series and the overuse of Time Lords that occured during the 80's.
This is an interesting figure.
And by interesting I mean it kinda sucks. The face, that of an old man, looks like it's melting off. The cape and whatever the shoulder thing is both prevent the shoulders from moving, effectively removing the point of including a shoulder joint. It also prevents the head from moving. Under its robes it has legs, which is kinda pointless since the robe prevents those legs from moving, although the feet can be adjusted to make the figure more unstable and hard to prop up. It makes sense that the figure doesn't have knees....
Oh screw it, I just hate the face. It looks like Regis Philbin's face is melting.