It is from Disney California Adventure.
It features Daisy Duck riding the waves on a turquoise & black surfboard.
She is smiling as she rides the blue water and foamy white waves and
her ponytail is flying back behind her.
Daisy swivels up and down as the top pin on this Pin on Pin.
At the bottom of the pin it reads "DISNEY'S CALIFORNIA ADVENTURE"
in light blue block letters.
From 2002.