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As we get near the end of this odyssey to identify all of these figures, it gets easier with time.
Back in Episode 10, we identified a figure from Platoon 20's V-US26 20mm US Army Chopper Crews. This waving figure is from the same set. Seems like he could be a downed chopper pilot waving for rescue, or less likely, crew signaling in a chopper for landing.
This pair of figures was painted for TMP by our friends in Sri Lanka, Fernando Enterprises, using their own references.