He's KFC (Kentuky Fried Chicken)'s mascot. He may also represent the founder, but I'm not sure whether he existed.
Yes, he existed, Harland David Sanders, better known as Colonel Sanders (September 9, 1890 – December 16, 1980), was an American entrepreneur who founded Kentucky Fried Chicken (KFC). His image is omnipresent in the chain's advertising and packaging, and his name is sometimes used as a synonym for the KFC product or restaurant itself.
There is a page about him on Wikipedia. [|http://en.wikipedia.org/wiki/Harland_Sanders]