This Bugs Bunny Original Production Cel from the 1990 Oscars. Bugs announced the winning animated short at that year's Oscars.
Here's the cartoon, and you'll find the Bugs cel is from at around 3:15 seconds :
Bugs Bunny is an animated cartoon character, created in the late 1930s by Leon Schlesinger Productions (later Warner Bros. Cartoons) and voiced originally by Mel Blanc. Bugs is best known for his starring roles in the Looney Tunes and Merrie Melodies series of animated short films, produced by Warner Bros. Though a similar character called Happy Rabbit debuted in the WB cartoon Porky's Hare Hunt (1938) and appeared in a few subsequent shorts, the definitive character of Bugs is widely credited to have made his debut in director Tex Avery's Oscar-nominated film A Wild Hare (1940).
Bugs is an anthropomorphic gray and white rabbit or hare who is famous for his flippant, insouciant personality. He is also characterized by a Brooklyn accent, his portrayal as a trickster, and his catch phrase "Eh...What's up, doc?". Due to Bugs' popularity during the golden age of American animation, he became not only an American cultural icon and the official mascot of Warner Bros. Entertainment, but also one of the most recognizable characters in the world. He can thus be seen in the older Warner Bros. company logos.
Since his debut, Bugs has appeared in various short films, feature films, compilations, TV series, music records, comics, video games, award shows, amusement park rides, and commercials. He has also appeared in more films than any other cartoon character, has won an Oscar for Knighty Knight Bugs, is the 9th most-portrayed film personality in the world, and has his own star on the Hollywood Walk of Fame.