I contacted the guys over at Penny Arcade and "Gabe" wrote back.
Bamatick: I made this Murloc thing and I'd like to donate it for auction to the Child's Play Charity (Gamers donate $ for sick kids).
Gabe: First, the Charity is over for the year. Second, it's probably not legal from a Blizzard standpoint. Lastly, that is totally bad-ass! (paraphrased)

Blizzard was offered a similar donation if they gave it away via a contest. I haven't heard back from them.

Being a person of action, I am taking matters into my own hands.

You want a Murloc of your own? Here you go:
Pattern: Plush Murloc (Tailoring 300)