It's a photo of Lombard with Virginia Bruce (whom she worked with in "Safety In Numbers" at Paramount back in 1930) and writer-director-producer J. Walter Ruben (Bruce's husband), published and printed by Metro-Goldwyn-Mayer. (It apparently was sent to France or Quebec, because the seller states the snipe -- which isn't shown -- is in French.) This may have been taken at the time of "The Gay Bride," Carole's lone film at MGM, or it may have been taken when she dropped by the studio, with the photo's primary focus (figuratively speaking) on Bruce.
However, while the photo is certainly rare, the seller is asking $439.99 for it. Say what? (And this is considered a discount of sorts, because the original asking price was $499.99.) Fortunately, in addition to eBay's "buy it now" option, the "best offer" is available, so if you're interested in the photo but are only willing to part with $15 or $20 for it, you can at least try.
Go to http://cgi.ebay.com/CAROLE-LOMBARD-VIRGINIA-BRUCE-1930-s-VINTAGE-PHOTO-MGM-/390142373596?cmd=ViewItem&pt=LH_DefaultDomain_0&hash=item5ad64c2edc if interested. But you'd better hurry, as the sale will end early Wednesday (Eastern time).
Incidentally, Ruben died of a strep infection in August 1942, just days after his 43rd birthday. His credits include directing the Jean Harlow film "Riffraff" and producing several of the "Maisie" films starring Ann Sothern.