Crawford Studios is a company presumably specializing in art portraits. They are a reoccuring sponsor of the PTA auction as Greg Heffley said that they probably appear as a silent auction every year as his family won a family portrait last year.
Greg disliked the family portrait as the Heffley family had to go back 5 times and he initially thought that they were taking a photo and he can enjoy the rest of his weekend.
Halfway through the first session, Manny Heffley would not sit still and the artist had to continuously start over at Manny's area. And at one point, Rodrick Heffley stopped returning to the sessions, which made the artist draw him from memory. Which landed the painting in the basement instead of being hung above the fireplace.
As Greg did not want his family to win the family portrait again, he wrote a fake name on the bidding sheet with a very high price.