Art by  bobguthrie
Color by http://kimbawest.deviantart.com/
Once again I will let Kimbawest comment on their great coloring job.

"Another model sheet of Lola that  bunnyman has archived. This version of Lola for "Space Jam" was not accepted because too much of the lower part of her breasts were exposed. I do not really understand the rational for that because I have seen actual women clad in bikinis in television ads during primetime showing off far more of themselves than Lola is doing here. Perhaps Warner executives think children do not stay up past five or six or only do so with strict parental supervision. Eh, my little rant."

The original can be seen here
http://rabbette.deviantart.com/art/.....-nos-180329360

This was actually a semi-joke model sheet done by the artist showing how to keep Lola from getting TOO sexy when being drawn for Space Jam and the many Lola Bunny products that came out.