A new Limited Edition, chances are only for internal use, showing a dinosaur or something similar holding some brain balloons. Definitely the Zune-Arts style because I find it difficult to describe what I see! After the jump you can see the photo in full detail...
It looks blue but I believe the photo is just blue-shifted and the real color could be just black or brown. A forum moderator of MSZune.nl spotted it on flickr and there are no more info about it.
You can see it in more detail on flickr
EDIT (28 Sep): Mystery solved, its a Microsoft Internships 2007 Special Edition Zune
[via MSZune.nl ]