It's still a violation of Disney's IP.
Nope. It is a picture of a character from Disney's IP, true. Violation tends to be a bit more gray as a Disney employee didn't actually create this specific picture, and it is not for profited use.
... It's still a violation of Disney's IP. Someone created the picture in the likeness of a Disney character, much as players can create costumes in the likeness of Marvel superheroes in this game, and it's not being used for any of the exceptions used under Fair Use (criticism, news reporting, teaching, and research)