As far as I am aware, its just a printed graphic still. 3D breasts on a minifig would be weird.
So, couple of years ago I actually worked for the Lego Company, just before the new girls range hit the stores. I got to read the companies magazine on why the range looked the way it did. Fun fact: Lego test the shit out of everything. Every product you see on the shelves will have gone through a group of kids first, often over several iterations. After the company nearly died in the early 90s they had to. They spent a fortune on scientifically understanding how children (at that point, their target demographic of 7-11 year old boys) played with the toy. Then they decided it was time for another crack at the girl market.
The Lego friends range was based on the following data points: the 'gender neutral' ranges where not selling to girls (ye olde basic bucket of bricks) the classic minifig was unappealing to girls (this was a big surprise, but they pinned it down to the fact that minifigs do not look 'real' enough, in basic terms) and the big classic ranges (space etc) never sold well to girls at all. Also, they quickly determined that girls where more interested in the 'play' part of the 'build and play' dynamic that is Lego's core ideal.
So they came up with the new friends minifig, stripped out the heavy assembly elements and changed the colour scheme to pastels, shades of purple and white mainly (every time you people shout 'its all pink!' my eye does a twitchy thing) They then did their damnedest to put in a wide range of sets. Sure, there are ponies and dogs and beach visits and kitchen sets. But there is also a lab full of scientific equipment, a kendo dojo, an art studio. . .you get the idea. Note that the minifigs are depicting characters of about 16 years old. They drive, have jobs, are independent, at least one of them is characterized as a tomboy character, one of the others is a bit geeky etc.
The fact is this a company doing its level best to appeal to a demographic it has previously been shut out of. They are trying, which is more than can be said for some companies who pump out the same old pink crap. Even in the main ranges, there is a solid spread of female characters (did anyone see the recent X-Com style lego set, which had more than a few female minifig characters? That stuff was amazeballs!) I have, sitting on my desk, a couple of the collectible minifigs, including a minotaur, a genie and a female space ranger. She has an awesome helmet and a freaking ray gun!