What figure is that from? It doesn't look like a smoke grenade to me. Do you have some box art for this? Might be able to figure out what it is suppose to be.
I asked the artist, Dmytro Zgonnik...who did the box-art, what the item is. It's a typical German 1-liter Steinkrug (stoneware mug) for beer...appropriate for this time of year...Oktoberfest!!!
Looks like the mug got a bit flattened in the sculpting/model making process. Perhaps you can carve it off and make a more realistic mug like in the original artwork. Some round plastic stock shaped into the mug with an epoxy putty handle would work fine. Good luck.