The set is part of the Black Knights line of sets (and was released back in 1993). The Black Knights had quite a few different sets released over a time period ranging from 1988 - 1998. By Brickset's count, there are 14 different Black Knights sets in total. Unfortunately for the Black Knights, most of their sets are small - not all as small as this one but many aren't much larger.
As for this particular set, it's basically exactly what you'd expect from the set title. You get a single minifigure archer along with a target for him to shoot at. Since the build is only 22 pieces, I'll show off the pieces as I often do...
...and then the complete build. I think you could build the entire set without once consulting the directions - just look at the picture! However, since I have the original instructions - here's a full scan!
As a kid, I always liked this set for a few reasons. First, it was a fun set for weapons since the Black Knight comes with his bow and a quiver as well as an extra spear. I guess the spear could be used with the target as well - but what is this, the stone age?!
I also liked the printed target (no stickers) and the big spiky green bush. I mentioned it before, but I always loved any sort of LEGO greenery. Heck, I still do. Old habits die hard I guess.
The Bottom Line (out of 10):
Play Value: 6
Kid Value: 5
Adult Value: 2
Despite my fond memories of this little set, I have to admit that it's one of the weaker Castle sets that I owned. As a whole, there's almost no way to do much in terms of an alternate build. Furthermore, with only one figure you can't even have a mini battle. And, of course, a lot of imagination is required to see if your little archer ever hits his target!