It's supposed to be a toy, but could be a useful photo prop. Made by Takara and sold by Toizarasu Japan. The Microlady comes in about eight different colours, and has four different bust sizes.
I bought the new Pentax K10D on Thursday, the day it was released here in Japan. I'm still learning how to use it, but I haven't been able to take many pictures yet, due to other commitments. But I think it's great!