Major Bludd was released in the second true wave of G.I. Joe action figures in 1983. Major Bludd was no a true member of Cobra but, rather, a mercenary for hire who often worked for Cobra. The figure is interesting in that he is the least articulated G.I. Joe action figure released in 1983. His right arm is not articulated at the elbow.
Major Bludd's weapon is a handheld rocket launcher and, perhaps, the odd right arm is meant to be some sort of protective shield related to the rocket. Some have speculated it is a cybernetic arm but the Marvel comics G.I. Joe: A Real American Hero comic book never hinted at such nor did his file card.