For those not familiar with El Goonish Shive, it's Elliott Dunkel in (one of) his transformed identities as the superheroine, Cheerleadra.
{Elliott did not name her - people took one look at the costume [which was sort of a random transformation element] and named her.}
It's from the {SFW} DeviantArt page of Carasibana, some of whose NSFW work has appeared on the "egs edits" page; i think it's the only EGS related material on her DA.
Larger view:
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Her NSFW edits of EGS stuff run the gamut from fairly restrained and sorta sweet (one she did of the EGS "Sketchbook" page below - which is not necessarily canon; it was done as a Patreon reward and a reader specified the basic content, Dan decided what to actually draw)
to funny (an animation of character's transformation popping the final button on her overstressed blouse) to downright raunchy.
Very very raunchy.
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As i said, her NSFW EGS stuff can be found, along with quite a few similar by the site's owner (who, BTW has Dan Shive's permission to do his thing) at the EXTREMELY NSFW website egs dash edits dot tumblr dot com. Again, the page owner's edits range from kinda sweet-though-definitely-NSFW to downright raunchy; some of them actually make Dan's original jokes even funnier.
