The image put me in mind of the Italian fashion house Benetton. Back in the 90’s they were famous for doing both colorful and controversial advertisements under the banner ‘United Colors of Benetton’. The bright colors were very much part of the fashion of the time, and while using controversial imagery to attract attention isn’t exactly new, they pushed it further than most.
Sadly this never graced a billboard. It’s actually a work by Maurizio Cattelan and Pierpaolo Ferrari for a biannual art magazine they do called (appropriately enough in this case) Toilet Paper. This particular image, called Sit on my Face, was part of a collection shot for Vice.