What does it make me think?
Well, the elf chick in the middle kinda throws me off a little bit from the otherwise urban style it seems to give.
The dark red with the red look good, and although the yellow-green parts don't clash horribly, the color choice could have been better.
If you were to keep the elf chick on the shoe, I would at least have her on there where she isn't cut-off, restricted, and just awkwardly placed. Since you can't move the Nike logo, I would at least angle her differently so it didn't look just kinda slapped on there, you know?
You could bring the picture down and to the left so her face isn't cut-off, or if you wanted to keep the tits in the shot, angle it by rotating to the left about...off the top of my head, 15 or 20 degrees, so you can still see the face, the tits, and maybe get a better look at the legs near the bottom of the Nike logo.