This is a mug shaped like a tikified version of the helmet belonging to the Rocketeer.

The Rocketeer is a fictional superhero appearing in American comic books originally published by Pacific Comics. Created by writer/artist Dave Stevens, the character first appeared in 1982 and is a homage to the Saturday matinee serial heroes from the 1930s through the 1950s. The Rocketeer's secret identity is Cliff Secord, a stunt pilot who discovers a mysterious jetpack that allows him to fly. His adventures are set in Los Angeles and New York in 1938, and Stevens gave them a retro, nostalgic feel influenced by the King of the Rocket Men and Commando Cody movie serials (both from Republic Pictures), and a love interest inspired by pinup diva Bettie Page. The Rocketeer character was also adapted into the 1991 Walt Disney Pictures film The Rocketeer by director Joe Johnston.

Tikiland Trading gives their version the following backstory:

"Legend has it that a beachcomber castaway, a bombardier from a downed Flying Fortress, in the South Pacific during WWII had to fashion a helmet from coconuts and driftwood for when he strapped himself to a Mai Tai fueled rocket in an attempt to get off the island. The wood finish glaze will rocket your Jet Pilot or flaming drinks to new heights! Last known whereabouts of The Beachcomber Bombardier are unknown… but we picked up his helmet back where it began, on the beach!"

Designed by Tiki tOny and sculpted by THOR. Produced by Tikiland Trading Co.