The One:12 Collective Iron Fist figure is presented in a fitted suit with dragon insignia. The master of martial arts comes complete with two head portraits and a range of chi effects including a Shou-Lao fist effect that is affixed to his interchangeable hand. Iron Fist is well-equipped with a three-section staff that is connected by a real chain.

Trained in the ways of martial arts at Kun-Lun, Danny Rand is given the chance to attain the power of the Iron Fist by defeating Shou-Lao the Undying, a dragon who guards the molten heart that had been torn from its body. After doing so, Danny becomes the immortal Iron First and learns how to harness his immense power to save others and fight honorable battles.