I found it. Scroll down at the link.
manufactured 1966-68
Realistic M16
In 1968 I was 5
A real bad year in the war.
No wonder mom didn’t like it.
http://users.rcn.com/ed.ma.ultranet/toyguns.html
“M-16! M-16! The neatest rifle you’ve ever seen!”
As I recall, that’s how the jingle went.