This is um.
This is… a fairy princess. Just the head of a fairy princess. With feet. Or possibly boobs, either way they’re on her chin. And one hand, holding a magic wand. And wheels. Wheels! In her neck! I… Jesus, I don’t know. I don’t even begin to know. I’m just gonna go watch the Fact Core video again.
Minimum Safe Distance 
As none of the other heads seem to have affectations from the neck down, the only obvious thing that the boobs can be is a bow tie. Therefor this must be a man dressed as a fairy but also going to a fancy party. Maybe a fancy fairy bow tie party. Maybe a fancy charity banquet for man fairies. The fancy party this dude is going to is only limited by a persons imagination.
Those are totally boobs.I think it’s a fairy godmother, though, not a princess. That wand is very godmotheresque (godmotherian?), and something about her cheeks makes her look not super young.