Well, considering its background, I would say so long as certain considerations are taken...why not? Knock yourself out.
You're an H artist? Good for you.
I don't think from a copyright viewpoint that it's illegal, provided that you give credit to holding company and original artist's concept. If it's copyrighted through and through on all fronts, you might have to ask for the rights to it and pay out royalty.
Odd I would ever see such a subject posted in the senate, or anywhere else in LF for that matter.