Yes, that's a pun. Liebre is Spanish for 'hare'. So here we have lapine lucha libre wrestler Lucha Liebre.

Although he's actually a Flemish Giant rabbit, not a hare, but 'rabbit' doesn't work for the pun. And are you really gonna tell an 8'6" tall high-flying wrestler you don't like his name?

That all translates as:
Little Blue Bear Presents:
LUCHA LIEBRE
A very special event
Presented for Cobalt's clients
Battle of the Century * Just One Night * No Refunds


The 'Lucha Liebre' pun is mine. The rest of that Cobalt wrote with Google Translate, according to his post.

The masked wrassler is my character Feets (look, he's a bunny, the name fits) from Tapestries, and the art and text is by
 Cobalt as a reward for backing his Patreon. ( http://patreon.com/cobalt )Go toss money at him, he deserves it!