Today Darren from Problogger.net has posted a screenshot of a Sexy Girl Holding a Adsense Ad. He found this ad while he was browsing some site. And he feels that publishers are may get banned by Adsense Team just to earn some quick cash.
Screenshot:

These ads usually grab visitor’s attention and make them click on it. Unfortunately this ad is against Adsense TOS, so don’t think of implementing this ad on your blog.
But According to JohnTP, ads seen on my blog are against Adsense TOS too because they have images close to them (without border). So I have dropped a email to Adsense Team and I am looking forward for their reply. If these ads are against Adsense TOS, then I will remove it.
Thanks for informing me about this.

wrote, on June 21st, 2006
OK, I asked Adsense about placing ads near images. and here is their reply
wrote, on June 22nd, 2006
OK, I specifically asked AdSense about this page. So they say: