Not really.

Tineye points to a bunch of hi5 and photo bucket pages. I'm certain none of those are the origin.

I haven't had time to dig deep, but the answer's in there somewhere. I got distracted by the first or second link.

http://wiresmash.com/amazing/beautiful-and-cute-panda-art/

That's the nature of the Intewebthingy. It's so non-linear.

I'm not convinced that that page is the origin -- its image is hosted at Acidcow, another photo bucket-like service.

However, the wiresmash page does have some sweet panda art on it, so thank you for sharing!