It's the 1/8 PVC Figure from Good Smile Company. Out of all the figures of Hatsune Miku I've seen, this one definitely looks the best. I really want to get my hands on one of these (I've never bought a figure before), but I definitely can't afford the $100-$200 price tags it has on ebay. I'll find it somehow. Here are some photos.
Miku's appearance is captured perfectly in this figure, I definitely don't want to settle for anything less. Photos are courtesy of the Good Smile Company website.