That is, Pelosi's head is photoshopped onto a body wearing a flesh-colored plastic bikini. With a dramatically stuck-out tongue added for good measure, in case you missed that this was Pelosi-as-Miley.
Basically, the point is: "Hey, Breitbart is moving into California. If we're really offensive, will you pay attention to us so we can get the word out about that?" And of course it works. But it also works to remind anyone who exists anywhere above the Breitbart level—which is to say anywhere above the oozing goo on the floor of a pond—that this is both the site's strategy for attention-getting and the level of coverage to be expected. I mean, set aside the sexism and burning need to personally attack a powerful Democratic woman ... Miley Cyrus? At last summer's VMA's? That's the kind of fresh, relevant cultural reference Breitbart has to offer these days?