It grew from the image in the OP after the exploitable version was posted.
Obama Face originated on /chat/ November 3rd, 2011 and went viral around parts of Ponychan, including /ef/, and Gyropedia after that.
Since then, the meme has since died off.
The image originates from a seemingly perverted grinning image of Barack Obama, the current and first half-black president of the United States of America, wearing a suit and holding his hand up. As shown (Left).
Explointed and edited examples are shown below.