waldos right in front, i found him before naked clown.
Nah man, as a veteran of Where's Waldo, I can assure you that that's not Waldo. There are various characters placed throughout those books that are dressed and generally look similar to Waldo but are actually not to throw people off. This one appears to be female, and I assure you is not Waldo.
That said, it could be one of Waldo's friends (most likely Wilma/Wenda); finding whom were part of the challenge in the later books.