7edyb34r = Teddybear
ph34r t3h = fear the

Piro speaks:
It's actually the artwork i did for an up coming new t-shirt we're doing - a reprise of the old 'ph34r t3h cute ones' t-shirt i did ages ago.
as promised, a link to a non-colored version to follow for those of you who like to CG stuff.
http://www.megatokyo.com/strips/0828-no_color.jpg