This image is art by Joseph Francis. According to his blog, this is model “Miss Crash of Studio Servitu painted in the naive style of the circus sideshow banner art of Fred G. Johnson.” The art is “meant to evoke the tarot card, ‘Le Pendu,’ or ‘The Hanged Man.'” The image contains the text “La Pendue, Maitresse Crash.”
Image provenance by Bacchus at Erosblog.