These double sided cut out cards are large sized, and I think it is part of a series but I know little more.
I do know that if you look at the card it is scored in the middle and it was originally issued folded along that line inside a see through plastic packet. That meant that only half of the sitting frog was visible on one side and the other half on the other. Once the packet was opened the standing frog revealed himself. I have been told the name was possibly "transforming cut outs" but this sounds rather wordy and hardly an incentive to buy them. I am not sure how many there were either, but surely not just this one.
A slight ouch is that it turns out to have been issued with Sugar Puffs rather than with oats, but though oats started out promising they quickly petered out. I am forever grateful to Quaker Oats for being so obliging and giving so much of the week.
Thinking caps on readers, and let me know if you remember them or can supply more information.