The artist identified by the signature “Yu-Ta.18” on this artwork has a web page in Japanese here. This page identifies the character failing to escape from the grasping tentacle-fingers as Jill Valentine from the Resident Evil gaming and movie media franchise. Yu-Ta.18 has actually done an entire tentacle-sex-themed art set featuring Jill Valentine that’s called Jill’s Report, although this particular artwork does not appear to be part of it:

Two small galleries featuring additional work by Yu-Ta.18 (including tentacle-sex images) may be found at Danbooru and Rule 34.

This post is a reblog with added provenance from a 17 November 2013 post at Infernal Wonders. The original image source at that time was a now-missing post at the Hentai Fantasy tumblr that is, sadly, also not to be found in the Internet Archive.