What's happening here may not be painfully obvious but trust me, if you go down to Circular Quay often enough at this time of the morning, you'll have the experience yourself.
The guy in the yellow top is a semi-regular feature at the bus stop and has a tendency to belt out songs. And I don't mean hum them, or sing them to himself, I mean belt them out, which is what he was doing at the time this was snapped. (Yes, even with his hands in his pockets like that.) His voice isn't entirely unpleasant; we're not talking about the next undiscovered Susan Boyle here, but he doesn't make you want to run screaming from the bus stop.
In this particular case, he was treating Alfred Street to a rendition of the "melodic heavy metal" (Wikipedia's words, not mine) ballad Wishing Well by Alex Rudi Pell.
If you didn't know that she was nothing more than an inanimate photograph in a perfume advertising poster, you might think that Charlize Theron in the background was quite taken with the "serenade".