Not certain of purpose but I will say these are extremely common & all over eBay & the Internet
figures... had to ask the question. More curious what it said than anything.
Kanji translations: (From Right to Left)
海軍 (Kai-gunn) - Navy / Naval
協會 (Kyou-kai) - Association / League (In this case)
海軍協會 (Kai-gunn Kyou-kai) - Navy League
You are welcome, Charlie-san.