Home version of an Atari arcade game (also called Video Pinball.) This particular console plays seven different variations of Pinball and Breakout-type games. There are two different versions of this particular console made by Atari itself (a later model with a beige case and a slightly different variation on breakout) as well as consoles marketed under the Sears and Epoch brand names. There is also a woodgrain model that looks much nicer than this one imo.
Apparently this version of video pinball was an arcade game and eventually ended up as an Atari VCS cartridge a few years later. However according to the videos on this page it looks a lot different than the VCD video pinball I'm familiar with, so who knows ( Actually, the gameplay videos there look downright atrocious.)