UPDATE: Instagram sleuthing reveals the piece may be near Allen and Canal streets, in the vicinity of the Orchard Street restaurant The Fat Radish.
Metro's original story is below.
Graffiti artist Banksy will be in New York for the month of October, he announced through his website on Tuesday.
The website declares "The street is in play," and appears to be advertising a monthlong "artists residency" called "Better Out Than In."
The website states that Banksy will try to "host an entire show on the streets of New York," anddisplays a quote from fine arts painter Paul Cezanne that was penned in a letter to writer Emile Zola: "All pictures painted inside, in the studio, will never be as good as those done outside."
The first installment appeared in Chinatown, and features a little boy standing on the back of another little boy, reaching for a can of spray paint on a sign that declares "Graffiti is a crime." On the website it is shown under the word "Manhattan," suggesting Banksy's show will span the five boroughs. [embedgallery id=229235]
Street art fans are encouraged to follow the hashtag #banksyny on Twitter, and can call a toll-free hotline for an audio guide by dialing 1-800-65604271 #1.
An audio recording explains the artwork, pronouncing Banksy "Ban-Sky" and offering a cheeky analysis of the piece.
"Perhaps it is a postmodern comment on how the signifiers of objects have become as real as the objects themselves?" the recording suggests.
"Are you kidding me?" the recording adds. "Who writes this stuff?"
Follow Danielle Tcholakian on Twitter @danielleiat