If bullies tell us not to draw him, we must draw him all the more; otherwise the bullies win. It’s as simple as that. Charles Cooke reflects on this further in “Free Speech without Apologies” (nutshell: when people are no longer under threat of death for simply drawing Mohammed, then we can have an argument about whether depicting Mohammed is appropriate, “offensive”, etc.).
Our first offering, via the Mohammed Image Archive, is a tasteful illustration of Mohammed from the Compendium of Chronicles, a history by Rashid al-Din in 14th-century Persia. Interestingly, he was apparently a Jew who converted to Islam and became a vizier in the Mongol empire (if you trust Wikipedia, etc.).