Released: Fall 2003
Articulation: Neck, (four) ball joint shoulders, (four) elbows, (four) wrists, hips
Accessories: Beach chair, umbrella, hair dryer, binoculars, slippers, lunchbox, base
From: Muppets Tonight
Pepe is wearing his light blue hoodie. He has holes in his two upper hands. The binoculars (for checking out the ladies) and the hairdryer have pins to stick in these holes. The green slippers fit on Pepe's feet. The Muppets Tonight lunchbox has pictures of Pepe. It was later added as an accessory for the Lips Action Figure.
Two versions of an exclusive Vacation Pepe Action Figure were released a few months later.