Magical Beetle is a bootleg toy based on Wonderborg by Bandai. It appears to be from 2001.
It is known to have two types of boxes, and both have a plagiarised version of the Robo-Chi Pets logo and the name of the toy has its own logo that makes the toy seem as if it's supposed to be a Robo-Chi pet. One box resembles the box Tiger sold Poo-Chi in, while the other type is rectangular.
The toy is only known to come in two color schemes.
One is white with black spots on its body and translucent, blue plastic for a spot on its back and a portion of its face, while the other version is a pale shade of dark blue with translucent, red plastic for its face and a spot on its back.
Both bugs have translucent, yellow eyes, and their legs and pair of antennae are also translucent and red. Each bug has something that appears to be silver between their eyes.
The box mentions they dance and play music. It's unknown what song they play or how the toys move.
I'm speculating that they have bump and go wheels, but I'm not sure if their legs move or not.