Yeo, who has painted portraits of Tony Blair, Andrew Lloyd Webber, Rupert Murdoch and Prince Philip, got the idea for the collages after a commission to paint Bush was cancelled. Yeo decided to make the portrait in the form of a collage using pieces of pornographic magazines.
A gallery spokesperson said posters of the Hilton portrait, titled "Paris, 2008," will be sold for $20 each at the gallery.
Yeo was reportedly offering proceeds from the sale of the posters to Hilton because the hotel heiress has said she didn't receive any money from sales of her 2004 sex video.
Hilton's representatives did not return a telephone call from reporters seeking comment.
The London-based Lazarides Gallery will operate the temporary gallery, called a pop-up, at a former restaurant supply store in the Bowery. The two-week show, "The Outsiders," opens to the public today at 282 Bowery in Manhattan.
