An image purportedly showing Elvis and Bruce Lee together in a dojo is frequently spread on social media by Twitter accounts such as @OldPicsArchive:
This image is not a photograph, but a composite of at least two different pictures.
The first image originally showed Elvis with Wayne Carman, a fellow karate student who trained with the famous musician under Master Kang Rhee in Memphis between 1970 and 1974. The other image showed Bruce Lee with Joe Hayes.
Here is a look at the real photograph of Elvis and Wayne Carman (left), the doctored image of Elvis and Bruce Lee (center), and the real picture of Lee with Hayes (right):