Original post here.
Sourced to Old Erotic Art.
Additional provenance by Bacchus on this one:
It turns out to be a 1995 artwork called “Aqua Girl” by Marcus Gray.
Some basic biographical info about Marcus Gray (including this picture and attribution along with a gallery of other works) can be found here:
Marcus appears to maintain a FaceBook page for his art here:
Marcus has at least two books of his work available on Amazon:
Here are some web galleries featuring works by Marcus Gray — there are many more, but these are a few of the larger or better ones I found:
Update: Commenter Alan Ralph adds that Marcus Gray also has a DeviantArt gallery, which you can find here.
Bacchus is actively taking image research commissions, and if you have adult imagery you’re curious to learn more about, I encourage you to visit Bacchus’s introductory post for his image-searching service, where you can find details about how to commission him.