I saw this depiction of wheeler's self-observing universe first time during Louis Kauffman lecture on science and second order cybernetics.
The cool thing about this is observer relative or who is observing this image.
"Universe emerge from nothingness, and then evolved and expanded to a state where it can observe itself and shape its reality"
I guess this image might be created during the discussion of Subjectivity in the quantum state wavefunction reduction(That's just indeterministic quantum interference and that connection of connecting with religion is just a very bad metaphor)
Try to correlate/connect the image with John A. Wheeler another quote "No phenomenon is real phenomenon until it is observed phenomenon"
You'll notice a self-recursive mental picture, which has some deep meaning.
The link to the lecture by Louis Kauffman is
https://www.youtube.com/watch?v=y9k3tYBREj0

Have a read!