In the anime BanG Dream!, the pink bear Michelle is one of the members of the pop group Hello, Happy World! In real life, there is a thirsty cosplayer in there. The result is nightmare fuel.
Update November 29 - 12:30am: As several readers have kindly pointed out, this is the very thirsty @thegadgetfish:
Via Afternoon News, here is the full photo which has been circulating on South Korean bulletin boards:
Which drew these inevitable comparisons online: