Madonna caught in an unguarded moment? No, it's Virgil Finlay's illustration for The Living Buddhess from the May 1937 issue of Weird Tales.
In the story which is one of Seabury Quinn's more than 80 stories featuring occult detective Jules de Grandin, a Buddhist lama in need of reincarnation decides to forgo the whole starting out as a baby route and instead takes over the body of a babe and refurbish for his needs.
This would be the first of Quinn's two gender change themed stories; the second one would be Alien Flesh which appeared in 1951. In that one a strapping young English explorer is turned into an Egyptian woman in payment for a debt.
Of note, Alien Flesh is the only Jules de Grandin adventure that was popular enough that it was `fleshed' out by Quinn from a novella to a full length novel and published in book form.
Madonna caught in an unguarded moment?