Dr Evil with his Disguises and Weapons, commonly known as the Lab Set.  Released in 1968, this superbly packaged item contained not only the Dr Evil figure with his sandals, gun, medallion and Dr Thorpe mask, it also included half a dozen other completely original accessories: The Hypnotic Eye, Dr Ling Disguise, Dessicator, Thought Sensor, Lab Coat, and Reducer Wand with Lens and Prism.  There is a box variation that lists the Dessicator as an "Ionized Hypo"
There is also a generic boxed version of the Lab Set, that comes in a generic brown box with "Dr Evil Gift Set No 923-9864" stenciled on it.  This set includes everything that the boxed set includes, except for the backing card for the Dr Evil figure and, of course, the outer box.  For more information on this cool item follow this link:
Dr Evil Gift Set
Dr Evil, the sinister invader from space.  At least that was Ideal's original concept, if somewhat modified by the comic book series.   Marked 1968 on the back of his one piece neck, with bulging eyes, and exposed brain, he is cast in light blue plastic.  His body is dimensionally identical to Captain Action's.  The outfit is electric blue with gold lining and snaps in the back.  Very much a product of the psychedelic era, the Dr always reminded me of the leader of the band of space hippies in the Star Trek episode "The Way To Eden"    Whatever his inspiration, he is truly the most original creation in the Captain Action series.
The Hypnotic Eye has a removable lid and base.  It is cast in hard plastic and the lid moves to cover or expose the bloodshot evil eye.  It has a series of controls on the front of the base, no doubt used by the Dr to manipulate the intensity of its hypnotic power.  It appears to be a mix of the organic and mechanical, certainly its origin is not of this earth. 
The Dessicator, or Ionized Hypo.  One piece plastic with gradient markings along the side, much that way a syringe does.  If that were not bad enough, it also has an additional reservoir on the top to enhance its lethal dosage.  The long thin tip makes it very fragile, and it is often found in two pieces.
Dr Ling Disguise.  Dr Ling was Dr Evil's only other alter ego besides the Dr Tracey mask originally supplied with him.   It seems Ideal figured that since Dr Evil had earned his doctorate, all of this alter egos would be doctors as well.  In the words of Austin Power's nemesis "I didn't spend ten years going to evil medical school to be called mister"  I always assumed that Dr Ling was Dr Tracey's assistant, playing the part of "Igor" to Tracey's "Dr Frankenstien"
Dr Evil's Laser Gun.  Blue plastic with red and silver painted highlights.  Certainly inspired by the work of Theodore Geisel, the loop on the back may originally have been intended to hang from a belt hook, like the flashlight in the Buck Rodgers set.  Alas, Dr Evil was never to have a belt, perhaps because his tunic would have hidden it anyway. 
Dr Evil's Sandals.  Blue rubber, marked "Hong Kong" on the bottom.  There does not actually appear to be a difference between he right and left one,  like most of Captain Action's footwear.  Having fragile straps these somewhat undersized Sandals required great care in removing.  Why Ideal chose to put their evil invader into such free spirited footwear is a mystery, although it is in keeping with the rest of his attire.
Thought Sensor, which looks strangely like a miners helmet.  Blue plastic with red and white accents.  Used in conjunction with the Hypnotic Eye, it can be used to subdue and control his foe.  While this is a cool looking accessory by itself, its large size makes it look a little strange when Dr Evil is wearing it.
Dr Evil's Medallion, front and back.  The chain attaches through a hole in one of the smaller spires (the ones with the clovers)  Gold plastic with amber jewel in the center.  Although gaudy it works well with the rest of the 60's hippy style garb of the Dr. 
Lab Coat with Dr Thorpe Disguide.  In the Lab Set the Dr Thorpe Mask came on a costume dummy, which was identical to the costume dummies used in other Captain Action costume sets.  The Lab coat is white with three buttons sewn on the front, although it actually closes via 2 snaps underneath the buttons.   The pockets are drawn onto the front and are not actually functional.  There were no lab pants, so in his Dr Thorpe persona, Dr Evil had to make do with the same electric blue pants he always wore.  Between that and the blue hands, I am surprised that Captain Action had any trouble seeing through this disguise.  In the DC Comic series, Dr Thorpe was known as "Dr Tracey".  Perhaps there was a Dr Thorpe working at DC at the time who didn;t want to be confused with a Bug Eyed Blue invader from space.
Reducer Wand with Lens and Prism.  This brown plastic wand has a somewhat concave lens which serves to marginally reduce images when you look through it.  There is a clear plastic prism integrated into the fork, which tilts.  The handle is not quite thick enough for Dr Evil to get a good grip on, so it is best to hold it with both hands.  Two small red and green buttons on the stalk serve as controls.  The wand is often found with the prism missing, as it is easily removed. 
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Page design and content copyright Jan 2000, updated Dec 2001 by Daniel Webster