Faster than an aeroplane! More powerful than a locomotive! Impervious to bullets! Up in the sky, look! Is it a bird? Is it a plane? No, it's-
THE EYE
(Imagine there's some CSS shenanigans going on with the above words, I can't code).
Today's hero is a giant flaming eye from... somewhere. This one also popped up in Keen Detective Funnies, though his appearance was before TNT Todd made a very sudden career change.
From its appearance, you may assume that he's some sort of villain or a miscellaneous public domain character that the Public Domain Superhero Wiki decided to lump in with the caped guys (as it has an annoying tendency to do) but this character is actually a hero. They use their power of flight and the deadly heat rays they can shoot from its eye to fight crime.
On paper, it's the best parody of Superman I've seen, and all it does is give the same powers to something more outwardly horrifying. I don't think that's what it's aiming for, but I think that'd be a great angle to use if someone wanted to bring back this inexplicable character (which they should).