It's called a "Punch Box" and it's a great alternative to a pinata. (Four-year-olds with big sticks can be a little scary sometimes.) Instead of beating on a pinata with a stick, each child punches through one of the pretty colored circles in order to grab the prize inside.
Great resource to use in guided reading sessions. This gives some great ideas that students can complete which relate to Blooms Taxonomy. Laminate it and use it in guided reading activities and sessions