Before Hulkamania: The Forgotten Plastic Legacy of Thunderlips
By the early ’80s, Terry Bollea had already traded his bass guitar for bodyslams, but it was Hollywood—not a headlock—that gave him his first big break with the mainstream. Before he was “The Immortal” Hulk Hogan, before red-and-yellow merch flooded every toy aisle in America, there was Thunderlips: a musclebound, over-the-top pro wrestler who appeared for less than ten minutes in Rocky III.
The film hit theaters in May of 1982. At the time, Hogan was still a rising star in the American Wrestling Association (AWA), and not yet a household name. It wasn’t until January 23, 1984—when he defeated The Iron Sheik at Madison Square Garden to win his first WWF World Heavyweight Championship—that Hulkamania officially began.
But Hogan’s early brush with mainstream fame came through the movies, not the mat. That brief appearance in Rocky III helped spark some of the earliest Hulk Hogan action figures released during the rise of Hulkamania—just as his larger-than-life persona was going national.
What followed was a confusing, often-overlooked little run of Hulk Hogan figures: some licensed through the Rocky franchise, others through the WWF, and a few that looked more like bootlegs than actual toys. Before LJN’s massive 1985 launch of Wrestling Superstars, even before the iconic Hasbro line of the 1990s, there were a few surprisingly early Hulk Hogan toys that had already hit shelves—including international figures from Japan and even a model kit from Nitto in 1980.
So no, the AppleWorks Thunderlips figure wasn’t the first Hulk Hogan action figure—not by a long shot. But it was one of the first to blend Hollywood and wrestling into a single plastic package. And its release tells the story of a pop culture icon at the exact moment his career turned into a global brand.
Hogan Enters the Ring of Rocky III
Hogan’s appearance as Thunderlips is brief—under 10 minutes—yet unforgettable. It’s equal parts parody and adrenaline: his exaggerated athleticism clashing with Balboa inside a spectacle match. His role was largely novelty, but it brought him to movie audiences two years before he became WWF’s centerpiece.
1983: Phoenix Toys: The First Thunderlips Action Figure (and a Whole Rocky Line)
Shortly before Hulk Hogan was headlining WrestleMania or tearing his shirt in arenas packed with Hulkamaniacs, Phoenix Toys made a bold move: they were the first to put Hogan’s Thunderlips character into action figure form.
Released in 1983, just a year after Rocky III hit theaters, Phoenix’s short-lived Rocky toy line was modest but ambitious. The lineup included Rocky Balboa, Clubber Lang, Apollo Creed, and yes—Thunderlips, making it the earliest known toy to feature Hogan in that signature white-trunks-and-boots look. While Phoenix seemingly never produced anything but these Rocky III action figures, what they did offer hit right in the sweet spot of early ‘80s collecting: 5.5” scale, muscular builds, and exaggerated features, clearly influenced by the likes of Masters of the Universe and other fantasy-style toylines.
The packaging was simple but effective: each card prominently featured the actor’s name and role, such as “Carl Weathers as Apollo Creed,” giving the figures a slightly more film-centric feel than their wrestling toy counterparts. On the card back, fans could see the full lineup, along with teases for additional accessories – like a Rocky Sock’Em Playset and even tattoos and transfers. But a lot of collectors today doubt that many (or any) of those extras ever actually made it to store shelves.
The Thunderlips figure, in particular, was a strange crossover – not a wrestling toy, not quite a movie toy, but somewhere in between. And since Hogan hadn’t yet officially exploded as a global icon, the figure quietly made its way into some collections, often sitting alongside fantasy warriors, He-Men, and plastic barbarians.
Today, loose Phoenix Toys figures are far more common than packaged ones, but even carded examples do surface, usually in the $100–$150 range depending on condition.
This was the first-ever Thunderlips figure, and it predated both the AppleWorks figure and most WWF-branded Hulk Hogan toys by at least a year.
1985: AppleWorks: Thunderlips Returns (with Slight Modifications)
After Phoenix Toys launched the first Rocky action figures, those molds didn’t vanish. Instead, they got a second life.
In the first half of 1985, Appleworks, Inc. picked up the baton and reissued the the Hogan figure under a new license, right as Hulkamania was hitting peak velocity and Rocky IV loomed on the horizon. Weirdly, Thunderlips was the only character released in this entire Rocky III tie-in line – no Apollo, no Clubber – not even Rocky himself.
These Hulk figures hit toy shelves just months before Rocky IV’s November 1985 premiere, when Ivan Drago themed merch would begin their own reign. While AppleWorks didn’t reinvent the figures, they updated the packaging and doubled down on the crossover appeal between Stallone’s boxing universe and the rising tide of professional wrestling.
With this new Appleworks line, Hogan’s Thunderlips was reissued in three distinct products: a carded solo figure, a Thunderlips wrestling ring playset, and an 18″ soft-bodied doll. Let’s take a look at all three.
6.5″ Hulk Hogan as Thunderlips Carded Action Figure
The Appleworks Thunderlips action figure was part of a second wave of Rocky figures that reused the core sculpts from Phoenix but slapped on new branding and barely updated packaging. Made in Hong Kong, the figure stands approximately 6½ inches tall, matching the scale of the Rocky, Apollo, and Clubber Lang figures. He’s articulated at the head, shoulders, waist, and thighs, and made from a combination of rigid body plastic and a softer rubberized head.
Collectors will also note a key identifier: “1983 United Artists Corporation” is molded near the figure’s rear waistband, which confirms that these are the same molds licensed and produced earlier by Phoenix Toys. Over time, the plastic on these AppleWorks figures (and the Phoenix Toys figures) can show aging—arms and legs may yellow or discolor, especially when stored in sunlight or non-temperature-controlled conditions.
Notably, the Thunderlips figure stands at the same height as Rocky – which ain’t exactly accurate, given Thunderlips’ towering presence in the movie. But in the 1980s toy world, scale accuracy was less important than muscle mass and shelf appeal.
In terms of values today, loose figures sell for $15–$25 in decent condition, carded ones range $150–$500, and AFA 75+ graded examples have topped $1,900 on occasion. Those autographed by Hogan tend to command a higher premium.
Thunderlips Wrestling Ring Playset (Ages 5 and Up)
The AppleWorks Thunderlips Wrestling Ring Playset might look exciting on the box, but crack it open and you’ll quickly notice something missing—an opponent. Yeah, Thunderlips is the only guy in the ring. Bit of a bummer for any kid hoping to reenact the Rocky III charity match without having to dig through the toy box for a stand-in. You’ll have to bring your own Rocky Balboa… or maybe He-Man.
The included figure is the same 6½″ Thunderlips from the solo AppleWorks release—articulated at the head, shoulders, waist, and thighs—with that soft vinyl head and painted white trunks. He stands inside a black plastic wrestling ring that’s as boring as it gets. It’s basically just four posts, thin yellow “ropes,” and a flat cardboard mat. But hey, Thunderlips is man enough to crush even this lame toy: afterall, he is the ring.
In terms of values today, sealed playsets in nice condition have sold for $899 to $999 on the secondary market. Looser or incomplete versions drop closer to $300–$400, depending on the box wear and how faded the figure’s limbs are. These don’t pop up often, and when they do, hardcore collectors pounce—more for the rarity than the play value.
18″ Thunderlips Soft Doll (For the Little Kids)
If you’re expecting something as fun as the classic WWF Wrestling Buddies, pump the brakes — this isn’t that. The big ol’ 18-inch Thunderlips soft doll from AppleWorks feels more like a curious detour than a slam dunk, aimed squarely at the toddler crowd with its soft body and harmless vibe.
Packaged in a red and yellow box, this oversized doll is less “wrestling action” and more “nap-time mascot.” His face sculpt actually looks a lot like Hogan and might be the most screen-accurate element of the whole toy. He sports a floppy red cape that kinda-sorta mirrors what Thunderlips wore in the movie, and he’s got his signature blonde hair and mustache combo down pat.
But then things get weird—instead of showing off his bare chest, the doll’s been stuffed into a soft yellow sleeveless sweatshirt, which makes him look like he’s been skipping arm day and carb-loading instead. Honestly, this thing’s less Hulk Hogan and more Paulie.
Condition really matters with this one, since the lightweight box and display plastic are super easy to crush or warp. In terms of value today, we’ve seen sales ranging from around $65 for a loose example (without his cape) to over $350 for one in excellent boxed shape.
The Legal Takedown: Appleworks vs. Titan Sports (1986)
Appleworks, Inc. didn’t stick around long after its brief foray into the Rocky merch game. In 1986, they were taken to court by Titan Sports (aka the WWF) for slapping wrestler’s faces on merchandise without proper licensing. The court sided with Titan, ruling that Appleworks’ products were pure commercial exploitation—not protected speech. After that loss, the company seems to have pretty much vanished from the toy world.
Early Hulk Hogan Action Figures — Even Before Rocky
While the Appleworks and Phoenix lines are only Rocky-related Hogan toys, they are definitely not the first Hulk Hogan figures ever made.
- 1980 Nitto Professional Wrestling Series model kit featured Hulk Hogan in 12″ scale—an unpainted model kit, not a mass-market toy.
- 1981 Popy Super Puroresu Series 1, a Japan release, included a painted Hogan figure in small scale before any US release.
- The 1985 WWF Wrestling Superstars line by LJN was the first official UFC‑style wrestling toyline in the US, featuring Hogan as an 8″ semi-rigid rubber figure with a painted title belt, released after his WWF title win in 1984.
Other Hulk Hogan Action Figures Over the Years
After the LJN Wrestling Superstars line launched in 1985, Hogan became a toy staple. Collectible series include:
- LJN 8″ Wrestling Superstars: Semi-rigid rubber, limited articulation; he appeared in multiple variants with different outfits.
- LJN Stretch Wrestlers (1987): Latex skin figures—fragile but iconic in early collector circles
- Hasbro WWF Real Wrestling Action (1990–94): 4″ figures with cartoonish paint and limited joints—but many popular variants and exclusive editions like “Series 1 Gorilla Press Slam Hogan”
- Jakks Pacific released multiple 2000s-era 6″ Rocky III line figures including Thunderlips reissues and modern-era wrestling figures
- Mattel WWE Elite and modern collector toys (2010 onward) bring hyper-articulation, film-accurate sculpting, and high-end variants—but those are firmly WWE-era, not Rocky‑related.
Conclusion: Hogan’s Rocky Legacy in Plastic
The Appleworks Hulk Hogan action figure tie-in for Rocky III might seem like a novelty now—but it’s a collectible that punches well above its weight. From the plush doll to the carded figure to the solo ring set, it’s the only Rocky III toy line devoted entirely to one off-shoot character—Hogan. That makes it doubly rare in both Rocky and wrestling merchandising histories.
Hogan’s broader toy legacy grew fast—LJN releases, Hasbro mini‑figs, Jakks Pacific spectacles, and modern high-articulation figures—but none of those connect back to Rocky the way Thunderlips does. It’s a sliver of screen time but a mountain of nostalgia.
So if you’re a fan who dances between the Rocky and the WWE worlds, or someone chasing the earliest physical tribute to Hogan’s pre‑fame role, these Thunderlips figures offer a sweet spot. They’re collectible evidence of a moment when the ring and the silver screen collided—and Hulk took both worlds by storm.
