This was the last series to contain Wacky Pack images (1994) until the 2004 wackys came out ten years later.
They are "Pogs," also called "Mad Caps." Pogs are a game which was a fad for a while in the mid-90's, and was marketed as a collectible. They are basically round pieces of hard cardboard with images on one side.
There are many pogs in this series, however only eight of them feature Wacky Packs.
They are part of a "sub-series" called the "Wacky Caps," out of a set of over 100 different pogs containing several other sub-series (Dino Might, Loco Motion, Wild Ones, America's Ugliest).