this is a lot less believable than the vag theory if you have studied human anatomy for more than a second. it should be obvious no human being is shaped like that nor could anyone under any circumstances bend their body in that way. hips don't curve that way, and where do you think their arms are attached? get real.
it is possible to make spmething pretty similar with your hands (use your pinkies). maybe it's supposed to be a heart? the vag theory isn't impossible but it's not very likely
no way it totally looks more like two women than a cooter.

ta-daa see? also imagine that they are leaning forward a little bit so it makes them look a little more bottom-heavy. maybe.
it's NOT. a vag. sir let me provide you with a large variety of vagina's.
the closest one to the picture would be a mix of #25 and #2, if her legs were spread out more and them lips is really saggin'. but man, it just doesn't really work. the shape of the supposed inner thigh is ridiculous. plus she'd have to be pulling up the butt cheek on the right side (not her right) and ONLY that side because the silhouette makes a sharp corner rather than having the flatter silhouette from the cheeks.
if the picture were hands, the lines would not be as smooth. hands have lots of wrinkles that show up when they're being folded like that. plus, the lighting doesn't reveal any sort of texture-- which makes it seem like the silhouette is not close enough to the camera so as to capture the details of the fingerprints and whatnot.
trust me i have studied this in depth and the most plausible theory to me is that it is two women standing next to each other with their hips and elbows touching. the location of the elbows lines up perfectly with the midpoint/waist of the body.
hmmmmmmmmm