The piece, signed by the 57-year-old actor in the lower right corner, depicts Native American elder Nathan Phillips playing his drum while white students, three of four of whom are wearing red MAGA-style hats that read "hate again," look on as they variously smile smugly, stick out their tongues, record with a phone in an American flag case and sneer at Phillips.
Carrey captioned the piece, "Baby snakes."
The students have come under fire since their confrontation with Phillips, which was captured in a series of several videos that each depict different versions of the complicated timeline of events.
Initial footage showed Covington students, notably junior Nick Sandmann, appearing to harass Phillips.
Subsequent video footage released over the weekend revealed the students were accosted and yelled at before Phillips and other Native American activists approached them. Another group – the so-called Black Hebrew Israelites – were heard shouting abuse at the students for wearing "Make America Great Again" hats.
The students were in Washington for a March for Life rally.