No, but there was one in the early 90's published by Milestone. I wouldn't be surprised if another one popped up due to the show, but you'd have to ask the man Dwayne McDuffie...er...if he feels like contributing.
I definitely would have bought it. I'm not sure why they've treated Static this way. It's a great show that makes great ratings. Never made sense to me why they wouldn't want to capitalize on it's success. An Ebon action figure would have kicked ass. Unfortunately the show doesn't get a lot of attention over here, but I'm sure plenty of people on these boards watch it.
Is there even a Static Shock toyline? I never watched this show much, I don't even know how much has aired here in the UK, but I've never seen any merchandise, and it's only just being released on DVD, after it's ended.