First thing I thought of too. That’s just not right.
Now that just isn’t right!
First thing I thought was “Urban Legend”. (Someone having fun with photoshop) Anyway, I checked Snopes and nothing. Still, that doesn’t mean it is “legit”.
Considering your Location line, I consider your response deliciously amusing!

I’m suspicious, too.
Larry Mudd’s link looks pretty authentic, and not in someone’s home.
If somebody faked it, they also faked this site that sells them…
http://thompsonworld.us/kiddyrides.htm
(4th from the bottom)
I think the one in the OP was part of a ‘personal collection’. The factory seems to have these from China so they are probably knock-off, non-Disney approved stuff.
I just can’t buy that Disney would approve this usage of Donald but I can see some Chinese maker being oblivious to the sexuality of the ride.
How?
(Link may not be worksafe if your employer disdains tiny scans of 19th century Chinese erotic art–but it’s probably safer than that big ol’ bouncy duck.)
Yeah but how culturally common is oral sex in China? Honest question; I’m under the impression it’s not nearly as pervasive there as it is in the US.
I have it on good authority that it’s, um, pretty widespread.
(Funny thing too, the duck ride looks more like straight-up rumpy-pumpy to me, since the seat is right between Donald’s legs. That’s why I picked that “woman on top” illustration. Now that you mention it, it does look like he’s praying at the altar, too. Who knew aquatic birds’ anatomy lent itself to such impressive dexterity?)
Betcha Michael Jackson owns a ride like this.
What’ll be disturbing is if it’s his image instead of a duck’s.
It’s a coin-operated sybian…?
My first thought was, “What sane business operator would have the thing in front of his place of business?”
Followed by, “And how long would it take for a mob of enraged parents to form?”
Except they might simply be too uptight to explain why they’re outraged.
I mean, if your 6 year old wanted to ride it, are you going to explain to her why she should ride the train instead?
Shouldn’t that be “And how long would it take for a mob of single women to form?” 
Well no. As it happens the swan is the only member of the bird family to have a penis (ask Leda). So I’ve never been that intested in Donald :D.
Penis, shmenis.
It’s all in the bill action, baby. 
“intested” - heh! 
Hooooo-eeee! Now, I have not laughed like that in a very long time. I actually had tears running down my face at the video. What a howl!