No idea if it's referencing something. I think it's just supposed to be a funny image, though I've seen those who thought it wasn't a joke, but those folk appear to be fairly moronic, so I don't think they're right. Even if they were, I would still find the image funny. Anyway, it's an old image, more than a decade old, and the earliest reference on TinEye is a JPG from SubDemon in a forum thread about attractive fictional characters, but without context of the post or the culture I'm not going to make assumptions, besides that it's irrelevant because it seems the original was an animated GIF, not a still JPG (i.e. the effects weren't put in by someone else years later).
On the other hand, you have something like this, https://www.deviantart.com/novernil/art/Real-Jedi-204489926
, which I just found while trying to look for the source of that GIF. At first I thought this was a joke, but judging by this lady(?)'s account, it doesn't seem like a joke at all. But I saved it because it's still funny to me and I can pretend it's mocking fags or something.