This is Contra. Just not as you know it. It's the hardcore 80's shooter reimagined by William "xiabaosg" Chua, who depicts Bill and Lance as fuedal Japanese warriors.
You can see more shots of the piece over on Chua's Facebook page. Scroll a bit further down and you can see an equally-badass picture of Link and Ganon done in the same style.
[via GameSetWatch]