Weird Book of the Week

Last time on Weird Book of the Week, we pondered a sorta recursive centaur-thing. This time, we've got a mystery on our hands. Behold!
Galactic Bunny
There are many things to marvel at in this illustration, most notably to my mind, the unconventional yet still quite effective choice to portray the laser beams emanating from the giant, pink space bunny's nostrils as opposed to the more traditional eye-beam. This is an illustration that just begs to be explained. Why is the mustachioed man attempting to silence the bald guy, can the Galactic Bunny hear things in space? What is it eating, a moon? Are those other moons floating around out there? What planet is this? What are those lasers actually pointed at?

I found this on Twitter a while back, on the Pulp Librarian's feed (which is just chock full of awesome pulpy book covers), but there is no title on the artwork, and no one mentions it in the responses (one person does ask, but there did not appear to be a response). I would really love to read the book this was created for. Barring that, I'd settle for a high quality print, because wow, just look at that thing. Sheer brilliance.