Apparently it is. The one in the picture is a joke, but a pregnant Barbie did exist.

Over the course of my fifteen seconds of research I found many other messed up Barbie related stuff.
Like 'pooper scooper Barbie'

'Wheelchair Barbie'

'Elderly Barbie'

'Star Trek Barbie'

'Amy Winehouse Barbie'

And 'Foosball Barbie'.

Yes, these are all legit.

I used to have the Pooper Scooper Barbie when I was little. I had so much fun with it until I swallowed one of the pellets by accedent (I didn't choke or have a stomachache), and I lost all the other pellets.