The Honda Racer is the joint brainchild of the Japanese firm and toy car maker Hot Wheels.
It's all part of Hot Wheels' 40th anniversary celebrations, which has seen a diamond-studded model and a unique Lotus toy also being created.
The 1/64th Honda Racer is finished in the same red and white colours as the Japanese company's1967 Formula One race car.
It also has an F1-style mid-mounted engine with its exhausts poking out from the top of the engine.
The engine is a scale model of a fantasy 2.0-litre V10 engine with Honda's VTEC variable valve timing.
At the front, the Honda Racer has an unusual split nose, with pods extending forwards to the insides of each front wheel.
Guillermo Gonzalez is senior designer at Honda's Research and Development Americas division, which came up with the Honda Racer, and he said: "This car combines Honda's racing heritage with Hot Wheels' reputation for performance and attitude."
A larger 1/5th scale version of the Honda Racer will be built for Hot Wheels' display at the Special Equipment Market Association show in October, which is a shop window for the world's tuning industry.
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