Artist Itay Zalait said the piece in Rabin Square, which features an image of Netanyahu perched at a long dining table with his hand in a cake, represents "the last meal of Israeli democracy".
Prime Minister Benjamin Netanyahu and his former rival Benny Gantz announced last month that they would join forces to form a new government.
The event is usually attended by tens of thousands of people.
The Palestinian leadership has been under mounting pressure to cut off security ties with Israel and the U.S.
Peter Paltchik and Or Sasson were Israel’s heroes on the final day of the Tel Aviv Judo Grand Prix and they are our men of the day.