In title(CJD), it marked Man in Woman's clothe. It's not futanari.

Considering it's Sakuya, who's female, and that it has breasts, I'd say it's Futanari.

Dreadhawk said:
it has breasts

Because they couldn't be... you know...

piespy said:
Because they couldn't be... you know...

It has a penis too.

I believe in this particular case you would put the Futanari tag down. While in this particular work it might be a guy, at the same time there is nothing hinting to that in this picture. Further more, this is a Female character. As such, the image itself would be Futanari.

This is a book about CJD, コスプレ女装男子 = cosplay cross-dressing boys. There is not futanari here, and in fact these are supposed to be original characters merely crossdressed as Touhou characters.

I read this book and. . . I was verily disturbed. But I was laughing at the same time.[/i]

Bump for translation for the sake of science.