This is a Universal Studios licensed item from the 1931 Dracula movie starring Bela Lugosi. Dracula's head tops a pen that writes in blue ink. The pen is 6 inches long; the card is 9-1/4 by 3-3/4 inches. Twist the head to pull out the bubble wand.
This is one of a set of bubble blowers that includes, at least, a Universal Studios Frankenstein bubble pen.