Mickey's thumbs are clearly pointing down in the image. When holding a camera up to your face, your thumbs will point up.
Definitely: https://web.archive.org/web/20221204145004/https://www.desertcart.com.om/products/30202270-toy-camera-mickey-mouse
Is the joke supposed to be about mickey spreading an asshole for that silver mickey part to go inside of it?
No, it's a reference to Goatse, a NSFW shock meme from the early- to mid-2000s. Don't Google it unless you want to see a very wide, spread open anus.
Mickey's thumbs are clearly pointing down in the image. When holding a camera up to your face, your thumbs will point up.
Yeah I can’t help but wonder if this was photoshopped
Definitely: https://web.archive.org/web/20221204145004/https://www.desertcart.com.om/products/30202270-toy-camera-mickey-mouse