Why yes, that is tiny Deadpool flying on an eagle and shooting a massive machine gun. Why do you ask? (Warning: potentially NSFW Deadpool art below.)
This concept art comes from artist José Emroca Flores, whose work Kotaku has featured before. It was created for the new Deadpool video game, and it's basically our new favorite thing ever. Also, below are some other Deadpool concept art pics, including slightly NSFW-ish pictures of Psylocke and Domino.