I hadn't seen this one for several years but the owner of the original painting posted a scan on the CAF site recently so I thought I'd update my old post, showing the sketch and pencils:
Circus Comics - comic series checklist
3 hours ago
A random collection of material from comic artist Kevin Nowlan. Started with the best of intentions, but like most other efforts, doomed to perish from neglect as soon as the novelty wears off.