Thanks to JT for this.
What we have here is a Grateful Dead "Steal Your Face" symbol redone with a Pens theme. And adding the word "off" really drives home the hockey angle.
What rules is that my bud started Penshead a few years back and used a similar image as the site logo. I mean, the Grateful Dead are awesome, and so are the Pens, so why not combine the two? Multiple people are already covering this, so it's clearly a thing.
JT with a critical update:
"Ironically, I'm wearing some unlicensed Pens gear right now."
(thanks to Cotter for the banner pic)