During Fall 2015 Hasbro released two 3 3/4 inch Captain Phasma action figures, one Captain Phasma was released in their regular The Force Awakens toy line and one Captain Phasma was released
as a Toys'R'Us exclusive in the armor-up assortment.
There are quite a few differences between both versions, even though both Captain Phasmas utilize the same mold.
We are only comparing both figures, we are not comparing the packaging and the accessories included with the figures (they are obviously different).
1st difference: Both boots were painted differently. The regular released Captain Phasma has the same grey/silverish color on the boots as on the body, the Toys'R'Us exclusive armor-up Captain Phasma
has some "dirt" applied to it.
Left: regular released Captain Phasma | right: Toys'R'Us exclusive armor-up Captain Phasma
2nd difference: Both plastic capes are identical in terms of sculpts, but the paint application on the inside and the outside is different between both versions. The regular released Captain Phasma
is all clean, while the Toys'R'Us exclusive was dirtied-up.
3rd difference: The pouches on Captain Phasma's belt were painted differently. The regular released version has the flap painted silver while the armor-up version has a black flap.
4th difference: The neck area on both capes are different. The regular released one has the cape closed on the top, the armor-up version's neck area is open. This was deliberately done
by Hasbro so that the cape could be taken off easier. You need to remove the armor-up Captain Phasma's cape in order to put both "armor-up" accessories onto the figure.
Those are all the differences we could find. Even though both figures use the same sculpt, the paint differences between both versions are noticeable.