.
A side of Mickey and Minnie we didn’t know existed.

Click on image to view in full size.

Graffiti artist:
Not sure, but rumored to be Banksy.
Doesn’t quite look like his work in my opinion, though.

UPDATE: June 28 2012 – Yes, this is Banksy. Per Oddee website:

“Graffiti artist Banksy notably altered a billboard in Los Angeles prior to the Academy Awards in February 2011, in hopes of calling attention to the nomination of his documentary ‘Exit Through the Gift Shop.’ A rather lecherous Micky Mouse, cocktail in hand, was painted onto an existing billboard along with a drugged-out Minnie Mouse and a banner reading, ‘Living the Dream.’ It was quickly removed.”