It’s written on the folder that the Merrick Mint took new, uncirculated US currency and colorized it. They also colorize US coins. These are typically not made for serious US paper money collectors. Unlike the US Mint, the BEP does not make commemorative paper currency.
Yes it's a real note, spendable at a face value of $2.00. To me, it's PPD or Post Print Damage. These bills are made for suckers. Remember, there's one born every minute. It's amazing what one can do with a good computer and a little imagination. Colorized coins are also spendable at face value and that's about all it's worth too.
@sakata Here is a link to some of the notes sold by the BEP likened to the concave baseball coins. I know there are many who collect these notes and that's cool and all but you'll get my drift. https://www.moneyfactorystore.gov/28888luckymoneysheet.aspx
They are not trying to present it as any denomination other than the $2 bill it is, so no, no violation of any statute.