This is the Green Wizard (7955), a member of the Dragon Army. He and the Castle Jester (7953) are the two minifigures/minisets initially released in the new Kingdoms line in the summer of 2010. At the time of release, the Green Wizard retailed at roughly 4 bucks - a very low price for such an excellent minifigure.
The minifigure is the primary draw for this set. The Green Wizard is dressed all in green, has a dragon painted on his hat, a black beard, and a simple brown rod that acts as a wand/walking stick. He complements The Good Wizard (5614) and The Evil Wizard (from set 7093) in the previous Castle line extremely well.
The accessories for this figure are very interesting. The first is the small green dragon pet statue. It can rest on the included alchemy table that contains two small beakers and two colored "stud" caps. There is also a book stand and mysterious tome/scroll. The tome/scroll is a single piece with a dragon painted on it and tiny words. If you look very closely, it reads, "You are far more powerfull than you would ever imagine..."
The Green Wizard is one of the few elements of fantasy in the new 2010 Kingdoms line. Considering the large amount of fantasy in the previous Castle line that ended in late 2009/early 2010 (skeleton armies, troll warriors, dwarf miners, etc...), this has been a rather shocking development. Because the Green Wizard is packaged as a separate minifigure instead of as part of a larger set, consumers can choose either to buy the minifigure and include fantasy in their LEGO experience or ignore the figure and stick to a more traditional setting.