It's a commercial for the Marx Rock 'em, Sock 'em Robots, a toy I never owned. I was 14 when they came out in 1966 so I was a little old for it but I remember a younger kid down the block who was always trying to get me or anyone to "box" with him. I think he sometimes made his mother operate the Blue Bomber and then he'd knock her block off and complain she'd let him win. I wonder if anyone in the toy industry ever did a psychological survey of those who buy toys that can only be played by two or more, contrasted to toys one can play all alone.
The two robots had enormous staying power. After many years out of production, the Red Rocker and Blue Bomber made an amazing comeback. Mattel now manufactures the toy…which looks to me like the exact same design. There can't be a lot of playthings that went away and returned like that, and it's especially amazing in a toy that involved a certain amount of mechanics. You'd think something that came out in '66 would seem technologically ridiculous today…but the fight goes on. Here's one of the TV spots that promoted this epic battle in the first place…