Junior Panoramas were devised to assist with marketing Busy Bees in the US. The change of name was to cash in on the popularity of Panoramas over there, & to help explain what the blinking things were; the cellophane-&-hole arrangement was to facilitate store display on wire hangers. Packaging aside, Junior Panoramas are simply plain old Busy Bees.
When folded & wrapped in cellophane, this sheet of orange card forms an oversized envelope to hold a Busy Bee Instant Picture Pack — note the notch along one side — & a nylon rub-down wand.
"Distributed in the United States by U.S. Games Systems Inc."
You can see that the first fold of the Busy Bee sheet fits neatly into the notch, making the orange card more of a sandwich filling than an envelope.
You don't choose your wand; your wand chooses you. (Yours is the melty one at the bottom.)
Picture Credit: The SPLAT Scan Archives
© Tom Vinelott 2020