This appears to be a parody of the Touhou doujin song "Kanbu de tomatte sugu tokeru", otherwise known as the Crazy Udongein song.
The actual panel that gets parodied in that song is actually from an ero manga by Nitta Jun. It caught on as a meme on Futaba, and has inspired a great many parodies and repetitions. The Touhou version just gets more publicity because of association with an IOSYS song and flash animation.