In 1978, Pepsi released a series of laminated placemats of DC Comics super heroes. This is the Superman placemat featuring a bold image of Superman breaking chains. It is actually the very popular artwork of Neal Adams that was originally used on the cover of Superman number 233 in 1971 and again on many promotional material and products like the Amscan Super Friends Decorative Cutouts from 1976. On the back is a comic strip style story of Superman’s origin with artwork by Curt Swan.
Other placemats in the series were Batman, Wonder Woman, Aquaman, Shazam! (Captain Marvel), and others.
I think that the added burst background makes it look like this Superman belongs on a G.I. Joe: A Real American Hero figure card. Perhaps this placemat is where the idea came from??