My 5 year old son did this! (with a LITTLE drill help from 'ol dad)... the idea was all his, though. He wanted to make a good guy out of the Beetle, so he searched in my parts box and came up this guy using his own Iron Man figure. The wings are from a dollar toy bug transformer, and the helmet is from a "The Batman" Firefly figure (w/ a little sculpey inside to help hold it in place). Used a forstner bit to help drill perfect size holes in the back. I might have to copy this design and repaint, because the boy likes the non-paint version (I guess in case he wants to play w/ him as Iron Man again).
The story behind Buzz Eye is that Beetle's son was ashamed of the criminal deeds (before Thunderbolts) of his dad, and so he stole and upgraded Beetles armor w/ the help of Tony Stark. Now he fights crime as the super-fast Buzz Eye!