We can't decide if this marks a clever nod from some kids at an advertising firm to Internet culture, or the precise moment that LOLcats stopped being cool or funny. We're feeling generous, so we think we're going to go with the former, seeing it as a refreshingly lo-fi, low-budget, punk-rock approach to game advertising. Also it made us laugh.
If you can't tell (because the ad doesn't actually have the name of the game printed anywhere!) this cat is advertising Sierra's Geometry Wars Galaxies. The ad was found on IGN by NeoGAFfer John Harker, and we don't want to think about how much money we made for IGN when we tried to find it ourselves. We even reloaded the same Jackass PSP review found in the GAF screenshot to maximize our chances of having the same ad come up. It was only later that we discovered the actual website for these ads, which contains a load of 'em.
Of course, those of you with excellent memories for Geometry Wars advertising will remember that this isn't the first time Sierra has used bizarre, nonsensical advertising techniques to promote this game.