You might have seen this design around the internet before, or some variation of it. As far as custom sprites go, this is one of the best ones. The artists other work can be found here.
I made this for a buddy of mine who is a huge Final Fantasy fan. He has a fairly large collection of FF stuff bought from conventions, and the internet, and he was really stoked to have this to add to it (I might even be making him the Sepiroth to match).
I customized it some, to give the hair a little more of a vibrant quality, and changed the reflection on the blade to blue as I have seen other artists do when recreating this sprite. I am really happy with the result, and I might make one for myself soon, too.