http://i119.photobucket.com/albums/o...910_041708.jpg
They used a texture overlay on a draenei model.
The ears aren't attached to model, you can obviously tell by the hips that this is indeed a Draenei model. They just removed the tail and blew up the chest. I'm perhaps in denial but currently I assume this is a push by Blizzard to perhaps divert attention that the true female worgen model is indeed unfinished.
Feel free to flame but you heard it first here.