I think it's a drawing.
People keep asking for the logo, so in the interest of helping out, I re-drew the drawing. Here's the logo in PDF (using RGB colors as people are making things for screen use). I didn't have a high resolution copy to work from, so I did my best in the time I had.
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Pandora logo in RGB (PDF)
For those doing print or reproducing the logo, the CMYK colors are:
- box logo: 100% cyan, 75% black
- word logo: 100% cyan, 20% black
I suspect there are no logo use rules at present, and so I'll just make some general design suggestions. Don't change the spacing between the letters. When presented side-by-side, try not to change the spacing between the box and the word logo. In general, don't overlay the word logo over the box (unless perhaps the box logo is enormous) as the legibility of both would suffer. The logo is best presented in solid colors, and the letters in the word logo should be of the same color. When scaling the logo, preserve the aspect ratio of height to width. (These are merely suggestions of best use, but design is about pushing boundaries, and so some rules can be a bit flexible.)
Random trivia: the 'n' and the 'r' are 1 pixel shorter on the bottom than all the other letters.
Edit: I have added the logo to the wiki, and will add some FAQs to it in a bit.