The exact same thing as the Video Vs. Maxx, but in different packaging.
I've got one of these machines, and it's not too bad. It's made out of semi-durable plastic, the buttons are pretty responsive, and it's well put together.
The games are all hacks of NES Colordreams titles. Four of them are the same shooter wtih different graphics. One is some kind of marble-maze type game. The only title I reconized is one that was called Blazing Lazers on the TG-16 (not sure what the Famicom title was.)
Shouldn't cost you more than $20 or so. Might be fun for the kids but not worth it if you're looking for any lasting gameplay.