It looks like a clone of one of Nintendo's earliest video games: http://www.mariowiki.com/Egg_%28Game_%26_Watch%29
Says "(C) Nintendo Co., Ltd. 1981" on the back.
I guess since the 60s or so, Soviets just started to copy all the CPU designs and electronics from the West. Apparently it included children's games.
The Polish original -- http://i.imgur.com/w7Q9aw1.jpg (a great game of space trading with a supply/demand system, space combat and a unique feature where you could predict future events and act upon them). Many years later I found all those cheap games were translations of American cheap games, published in the "Ares" magazine: http://i.imgur.com/islQ8gW.png
1: http://en.wikipedia.org/wiki/List_of_Game_%26_Watch_games