The doll is created in part by New York-based fashion designer Phillipe Blond, who is a cross-dresser himself. The term drag queen is not officially used to describe the new Blonds Blond Diamond Barbie Doll, reported Daily Mail.
Mattel, the company that manufactures Barbie, commissioned the work to Phillipe and David Blond of the label, who have expressed their adoration for the doll ever since their label was born in 2007.
"One of the great things about Barbie is that she continues to push the envelope. Barbie doesn't worry about what other people think," said Cathy Cline, vice president of marketing for Mattel's girls' brands.
"Fashion is a form of self-expression and we believe that everyone should feel glamorous every day," Phillipe added.
The doll features a side-swept hair style and an extremely short bejewelled mini corset dress that is laced up at the back.
She pairs the look with flashy accessories like a faux fox fur floor sweeping coat, a chunky silver cuff, a sparkling cocktail ring and silver metallic pumps that feature a lipstick pink sole. Barbie has also been given eyelash extensions, a must for any drag queen.
Phillipe himself sports similar long blonde hair to the doll, though his design partner David stressed that it is not a true representation of him.