That's Playmate of the Year Tiffany Fallon bodypainted as Wonder Woman, an image that sent feminist comic book fans into a rage. According to some of the aggrieved, bespoiling Wonder Woman is bespoiling a heroine to little girls everywhere. Riiiight, and her hot pants and bustier are in no way intended to appeal to grown men. (She was, after all, created by S&M enthusiast William Moulton Brown, which explains the lasso as well.)
Wonder Woman had appeared on the first cover of Gloria Steinem's Ms. magazine in 1972; so some feminists saw the Playboy cover as an attack on 30 years of feminism. But perhaps the most bizarre reaction came from comics writer Greg Rucka, who wrote a post on his LiveJournal blog (since deleted) that called out the cover as an attempt to torpedo Hillary Clinton's presidential ambitions.
Rucka wrote: "Do you really think it's a coincidence that Playboy chose this year, the issue for the month containing "Tsunami Tuesday," to run this particular pictorial? Do you really?"
The theory gained a surprising amount of traction—surprising in that it's so batshit wingnutty that any traction was surprising.