In the tradition of their 8-bit repaint series that has also featured Jason Voorhees and Robocop, NECA had been promising a new one soon, and offering a pretty strong hint that it would be Predator by showing a Twitter avatar that was a screen-capture from the old Predator game.
Then today they subtly switched it to the fully painted figure above. In thumbnail size it was hard to tell, but it wasn't long before followers figured it out.
Here's the original. I'd say they did a pretty great translation.