Once again, this is the second part to another image.
I'm not entirely sure I'm interpreting the second panel correctly. I assume 微笑ましい is Kyon referring to Haruhi's reaction, since he phrased it as a question.
Guy's a natural pickup artist...She seems awfully happy just from playing with her hair...What?Fweh!?Damn, you're really cute Mikuru-chan!!Your hair looks cute like that Nagato.......I see.Mikuru-chanWhat color ribbons do you think would look good?Huh!?
Uhh, pink.