You can’t really see that much, so I haven’t bothered to place a strategic black dot. Those concerned that this might have come up in front of a classroom of kids will be happy to know that if Google SafeSearch is on, then none of the images show. This is because it appears that SafeSearch overrides Google Universal Search image integration, regardless if a picture is explicit or not.
I say this because if you do an image search for chewing gum with SafeSearch in the "moderate" setting, which should filter out any explicit images, the woman still appears in the top results. Thus, Google doesn’t consider the picture explicit.
It’s only if you use the "strict" setting, which removes content based on the words on pages, that the picture disappears. And if you go to the page this picture appears on, which lets you watch the Danish chewing gum commercial it’s from, you can see words like "naked" and "penis" that probably trigger the strict filtering.
See also Google Universal Search Means Looking For Raccoons Is No Longer Family Friendly for our last funny like this.