Or, rather, toilet paper made out of recycled milk cartons (30%). The red lettering is written in katakana, the script used for foreign words. It literally sounds out the words "Recycle Eco Roll". The word below it in blue says "single" in katakana.
Toilet paper is sold in packages of 12 rolls like this. It has a plastic handle at the top to make it easy to carry home.
Kids Web Japan-- katakana