The Dreamworks logo features a young boy sitting on a moon while fishing . The general idea for the logo was from company's co-founder Steven Spielberg. Spielberg originally wanted a computer generated image, whereas Visual Effects Supervisor Dennis Muren, of Industrial Light and Magic suggested a hand-painted one. Muren contacted friend and artist Robert Hunt to paint it. Hunt worked both versions featuring his son William as a model for the boy, and Spielberg liked the computer generated image (CGI) better.
Some say Spielberg got the idea for the logo from Michael Jackson's Neverland Valley Ranch logo which does look a lot like the Dreamworks SKG logo, the Neverland Valley Ranch logo was made some six years before the Dreamworks logo.
The logo that you see in the movies was made at ILM based on paintings by Hunt, in collaboration with Kaleidoscope Films, Dave Carson, and Clint Goldman.