Okay, The Grabber may not exactly be a star character, but M3GAN? M3GAN's a gosh darn icon. And she got to that level almost immediately, while some characters have a slow climb, and others never make it at all. That's all marketing, baby! 
How many people who are "fans" of Art the Clown have ever seen even one Terrifier movie? How many people who think Annabelle is scary know she might as well be a haunted teapot for all she does? If M3GAN hadn't hit it big on TikTok, would we know her at all?
Back in the day, the Horror Classics Mystery Minis just went for the general look of the character, but the Universal Horror line is big on posing. Not the toys themselves, mind you - these are still unarticulated vinyl figurines, not action figures - but the sculpt; so M3GAN isn't just standing there looking all "uncanny valley," she's got body language. It's not anything wild, and that's what's really impressive about it: she is, to describe it, just standing there; but the way she's standing, the width of her feet, the bend of her arms, the angle of her head... whoever designed this for Funko did a superb job.
The Mini is taken from the scene right after her dance - you can tell, because she's got the blade from the paper cutter in her hand. Yes, I forget that was a thing at first and thought she just had a knife. Like I said, her popularity is marketing, not familiarity. Her large eyes are painted with prominent eyelashes, and she's staring straight ahead. That wouldn't have worked as well with the old "blank eye" style of Mystery Minis; I may like that aesthetic better, but I can still recognize this works. The painted stripes on her sleeves and her bow tie are painted cleanly, and she appears to have some light purple eyeshadow.
M3GAN is, logically, available in a 1:6 ratio - two in every case. She seems like she would have been a prime candidate to get a variant (popular character, alternate heads with distinctive looks), but I guess for now they wanted to focus on just making sure she was plentiful enough for everyone to get one.
