Now being a die-cast surface and not the plastic Alternators line is there paint for a die-cast surface or not necessary? Also the shade, does anyone know if that type of shade (purple/lavender etc.) and if available? Thanks for the help all. 
Soundwave Superior 
Hello. ^_^
I've never actually fixed a loose-leggy before, but I'd guess the best way to do it would be to:
Disassemble the legs. Take the two sliding parts and inspect them.
You'll probably find that there's a clip or pressure-point that has worn away over time.
You can either rebuild it using a small piece of plastic, or just a blob of super-glue or epoxy, or perhaps coat the inside of the legs with layers of superglue to make them really tight.
Sometimes, when I have loose parts, I stick small pieces of paper or plastic film on the inside of the pieces. This often makes them so tight that the pressure alone holds two sliding parts in place.
Just be brave and take the toy apart. ^_^ You'll figure it out.
