About 15 minutes using mspaint and notepad. Stole the image from "gold sponsors" above, scaled to 50%x50% and drew the picture in notepad using one color per letter, then added spaces and replaced the color letters with the smiley tags. Another 10 minutes spread out of going back to add more colors and re-center since it originally was one 'pixel' left of center.
Had I made use of one of the Linux systems I'm logged into at the moment it would have taken less time.