Hey, everybody! It's Farrell Comics's immortal star Billy Bunny, as rendered on the cover of Billy Bunny #3, June-July 1954. You know him as one of a startling number of Bugs Bunny ripoff^W inspired characters in kiddie comics of the 40s and 50s. You can see the original at https://comicbookplus.com/?dlid=74987 on the front cover. There's no clown-related content in the book besides the cover. So I can give no answer to why Billy Bunny appears to be horrified that he's dressed as a clown. I guess maybe the balloons are making him float away and he would rather not? This is all conjecture.

I'm impressed with my own work here, partly because the coloring was fun, partly because after looking over my illustration I realized Billy's left leg was bent in a horribly painful and unnatural-looking pose. Part of that was my own incompetence, yes, but part of it is that the original isn't a very good-looking pose if you really pay attention. But I was able to fix that so that now it's just that he has one pant leg bunched way up compared to the other. Trust me, this is better.