It’s a picture of Chris Hansen from To Catch a Predator posing with some /b/tard holding up a pic of Pedobear. I don’t know the back story about that exact pic, but this kind of thing happens quite often.
July of 2007, “Chris Hansen”, “To Catch a Predator”, and “Perverted Justice” all reach their last big peak just as interest in Pedobear begins to exceed the popularity of him or his show.