No, not caricature. Caricature, to be caricature needs to be obviously that. Anything that appears to be real but is in fact fake. Is fake. To present photos that are photoshopped to appear authentic, and at the same time present an inaccurate image is not caricature. You should know that, probobly do know that.
If this is the same picture that we all saw last summer, then you have to be daft to believe it is a real picture of her. Or perhaps Palin is such a self-caricature that you actually believe a photo in which she is shooting a rifle while wearing a bikini on a lakeside dock.