Indeed I have. In fact, a few years ago I decided it might be fun to produce a painting based on a second painting which in turn was based on a third-- sort of a visual version of that game called "Telephone".
This is Diego Velázquez's original Portrait of Pope Innocent X, done in 1650. Done in oil on canvas, its dimensions are 47" x 45". It is located at the Galeria Doria Pamphilj in Rome. A fine example of Renaissance-era portraitry.
This is Francis Bacon's modernist reinterpretation, done in 1953 and entitled Study after Velázquez's Portrait of Pope Innocent X. It was done in oil on canvas, measures 60" x 46", and is part of the permanent collection of the Des Moines Art Center in Iowa.
And finally, this is my postmodernist re-reinterpretation, done in 2010 and (with tongue planted firmly in cheek) entitled Study after Bacon's Study after Velázquez's Portrait of Pope Innocent X. It's only slightly smaller than Bacon's, at 60" x 36". It was done in acrylics on canvas, and is currently housed... erm... behind my bed. Just as Bacon referred to his version as one of his "Screaming Popes", I've taken to nicknaming this one the "Exploding Pope".
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Mediocrity is a petty vice; aspiring to it is a grievous sin.