You can do this using a data URI in the image src
attribute.
The format is: data:[<MIME-type>][;charset="<encoding>"][;base64],<data>
This example is straight from the Wikipedia page on data URIs:
<?php
function data_uri($file, $mime)
{
$contents = file_get_contents($file);
$base64 = base64_encode($contents);
return ('data:' . $mime . ';base64,' . $base64);
}
?>
<img src="https://stackoverflow.com/questions/2070603/<?php echo data_uri("elephant.png','image/png'); ?>" alt="An elephant" />